Aquiline Capital Partners, a US-based private investment firm focused on financial services and related technologies, has raked in more than $3.4bn in fund capital.
This follows the final close of Aquiline Capital’s fifth private equity fund dubbed Aquiline Financial Services Fund V (AFS V) and the close of its continuation fund Aquiline Financial Services Continuation Fund.
AFS V, which is said to be Aquiline Capital’s largest fund to date, has secured over $2.3bn in capital commitments, surpassing the size of its predecessor.
The American private investment firm received support from its existing investor base, including financial institutions, sovereign wealth funds, public pension funds, funds of funds, and family offices.
Aquiline Capital has also attracted first-time commitments from investors in the US, Europe, the Middle East, and Asia.
The continuation fund was closed on nearly $1.1bn of capital commitments with lead investment from HarbourVest Partners.
It was established to acquire certain portfolio companies in Aquiline Financial Services Fund II (AFS II) and Aquiline Financial Services Fund III (AFS III).
Besides, the continuation fund saw the participation of several new investors, including funds managed by Ares Management, StepStone, Commonfund’s CF Private Equity business, and re-investment from existing limited partners.
According to Aquiline Capital, the transaction provided investors with the opportunity to capture future value creation along with delivering existing limited partners an option for accelerated liquidity.
A part of the fund will be available as follow-on capital to support future growth initiatives and potential strategic acquisitions within the portfolio, said the private investment firm.
Aquiline Capital managing partner Igno van Waesberghe said: “Aquiline’s blend of deep financial services industry knowledge and trusted relationships has underpinned our successful fundraising activities in a challenging market.
“We are pleased to welcome a mix of new strategic investors from our industries, as well as institutional investors from Asia and the Middle East, to AFS V and leading institutional investors to our Continuation Fund.”
