Aquiline Beats Target

Aquiline Capital Partners has closed its fourth private equity fund, Aquiline Financial Services Fund IV LP, with more than $2 billion in commitments, exceeding its target of $1.5 billion.

Aquiline’s new fund was raised from investors around the world and follows the firm’s earlier fund, Aquiline Financial Services Fund III LP, which closed in April 2016 with $1.1 billion in capital commitments.

Aquiline invests in middle-market businesses across the financial services sector including financial technology, insurance, investment management, business services, credit and healthcare.

“Today’s dynamic market conditions are creating significant disruptions across financial services, technology and healthcare that we believe will present compelling investment opportunities for us,” said Jeff Greenberg, chairman and CEO of Aquiline. “We look forward to building on the global momentum we have established and continuing to serve as a trusted partner to our portfolio companies through our industry expertise, operating capabilities and technical know-how.”

The new fund has already closed investments in CoAdvantage, a Tampa-based provider of outsourced human resources services – including payroll, benefits, workers’ compensation and other core functions – to small and mid-sized companies. The business was acquired by Aquiline from Morgan Stanley Capital Partners in July 2019; Ontellus, a Houston-based provider of outsourced medical records retrieval services to insurance companies and law firms. The business was acquired by Aquiline from The CapStreet Group in December 2019 (CapStreet retained a minority position in Ontellus); and Elm Street Technology, a Dallas-based provider of real estate technology and marketing services to the residential real estate industry, acquired in January 2020.

Aquiline was founded in 2005 and is headquartered in New York City with an additional office in London.

Private Equity Professional | May 28, 2020

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