Aquiline Capital Partners LP, a private investment firm dedicated to financial services and related technologies, announced that it has raised over $3.4 billion of fund capital, following the final close of its fifth private equity fund, Aquiline Financial Services Fund V L.P. (AFS V), and the closing of its continuation fund, Aquiline Financial Services Continuation Fund L.P.
With $2.3+ billion in capital commitments, AFS V is Aquiline’s largest fund to date, significantly exceeding the size of its predecessor. And the firm received strong support from its existing investor base of financial institutions, sovereign wealth funds, public pension funds, funds of funds, and family offices. Aquiline also welcomed significant first-time commitments from investors across the U.S., Europe, the Middle East, and Asia, demonstrating confidence in its investment activities and growth trajectory.
Aquiline has also closed on approximately $1.1 billion of capital commitments in its Continuation Fund, including a meaningful lead investment from HarbourVest Partners. This continuation fund was established to acquire select portfolio companies in Aquiline Financial Services Fund II L.P. and Aquiline Financial Services Fund III L.P.
The deal offered investors the opportunity to capture future value creation while providing existing limited partners with an option for accelerated liquidity. And a meaningful portion of the fund will be available as follow-on capital to support future growth initiatives and potential strategic acquisitions within the portfolio.
HarbourVest served as the sole lead investor in the Continuation Fund, with participation from several other new investors, including StepStone, funds managed by Ares Management, and Commonfund’s CF Private Equity business, and re-investment from existing limited partners. All AFS II and AFS III limited partners were provided with the option to roll their value on status quo terms, reinvest their value into the Continuation Fund, or receive full liquidity.
The combined $3.4 billion of fund capital was welcomed by Aquiline’s Managing Partners, Vincenzo La Ruffa and Igno van Waesberghe.
Since being formed in 2005, Aquiline has been committed to its strategy of working with companies to solve the financial industry’s biggest challenges. And with a global presence and rigorous industry analysis, Aquiline can identify industry trends, big and small, that create meaningful change in the delivery of financial services.
The firm has also built trusted relationships across insurance, asset and wealth management, banking and capital markets, healthcare, and payments, enabling Aquiline to partner with companies to build value for its investors alongside company management.
KEY QUOTES:
“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. We already have strong momentum in AFS V, with capital deployed across multiple investments, and look forward to continuing the value creation journey.”
- Aquiline Managing Partner Igno van Waesberghe
“We have purposefully created a firm that provides capital and expertise to outstanding companies, whether in the form of private equity capital, venture and growth funding, or credit. Along with our geographic and industry reach, this makes us a powerful partner for industry leaders, entrepreneurs, and innovators alike.”
- Aquiline Managing Partner Vincenzo La Ruffa
