Stone Point Capital LLC raised $7 billion for its eighth private equity fund at final close.

The financial services-focused private equity firm will start deploying capital from the Trident VIII LP fund during the first half of 2020.

The general partner and affiliated entities committed more than $350 million to the fund, which held its final close with its institutional investors during the second half of 2019.

Debevoise & Plimpton LLP was legal adviser to Stone Point with the creation of the fund.