Aquiline Capital Partners LLC, a New York-based private equity firm investing in financial services, announced the final closing of its third private equity fund, Aquiline Financial Services Fund III L.P., with over $1.1 billion in total capital commitments, exceeding its target of $1 billion. To date, Aquiline has raised over $6.5 billion of capital through its affiliated funds and co-investments.

With its new fund, Aquiline will continue its strategy of investing in middle-market businesses across the financial services sector, including banking and credit, insurance, investment management and markets, and financial technology and services businesses. Aquiline has made to date five investments in Fund III, including:

Engs Commercial Finance, a U.S. truck lending and leasing company;
Fenergo, a global capital markets compliance software company;
OmegaFi, a payment software and processing business;
Ascensus, the largest independent U.S. retirement and college savings service provider; and
Wellington Insurance Group, an outsourced underwriting business for residential property insurance.

“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.”

Stanwich Advisors LLC acted as lead placement agent for Fund III, and Simpson Thacher & Bartlett LLP and Walkers acted as legal counsel.

Aquiline Capital Partners, founded in 2005, is a private equity firm based in New York investing in middle-market businesses across the financial services sector in banking and credit, insurance, investment management and markets, and financial technology and services. Aquiline targets specialized businesses that have potential for improved performance and growth in conjunction with Aquiline’s equity ownership and active involvement. The firm consists of industry experts, many with operating experience, who use a hands-on approach to build value in portfolio companies.