Stone Point to Join Push for Retail Wealth With $1 Billion Fund

Stone Point Capital is testing a roughly $1 billion fund that it hopes to one day open to wealthy individuals, as smaller private-markets firms seek to emulate their larger peers in tapping the multitrillion-dollar retail market.

The Greenwich, Connecticut-based private equity firm is backing the new vehicle, a so-called evergreen fund, with capital from its Trident flagship private equity funds, according to people familiar with the matter.