Aquiline Capital Partners has held a final closing of its third private equity fund, Aquiline Financial Services Fund III, LP, with over $1.1 billion in total capital commitments, exceeding its target of $1 billion.
The new fund will continue the firm’s strategy of investing in middle-market businesses in the financial services sector, including banking and credit, insurance, investment management and markets, and financial technology and services businesses.
“We are gratified by the support of our existing and new investors,” said Jeff Greenberg, Chief Executive of Aquiline. “We believe that this latest fund is an endorsement of our investment approach and capabilities. Since our founding in 2005, we have built a focused investment platform. We will continue to invest in differentiated companies with strong management teams in the financial services sector.”
Fund III has already closed five investments: Engs Commercial Finance, a truck lending and leasing company, based near Chicago in Lisle, IL (www.engsfinance.com); Fenergo, a capital markets compliance software company, based in Dublin, Ireland (www.fenergo.com); OmegaFi, a payment software and processing business, based in Columbus, GA (www.omegafi.com); Ascensus, a retirement and college savings service provider, based near Philadelphia in Dresher, PA (www.ascensus.com); and Wellington Insurance Group, an outsourced underwriting business for residential property insurance, based in Fort Worth, TX (www.wellingtoninsgroup.com).
Stanwich Advisors (www.stanwichadvisors.com) was the lead placement agent for Fund III, and Simpson Thacher & Bartlett (www.stblaw.com) and Walkers (www.walkersglobal.com) provided legal counsel.
Aquiline Capital Partners was founded in 2005 and is based in New York (www.aquiline-llc.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-7-16
