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Laxman Pai, Opalesque Asia: European financial services sector specialist BlackFin Capital Partners has closed its fourth fund at €1.8 billion, beating its initial €1.5 billion ($1.96bn) target.
Driven by strong demand from institutional investors in Europe (45%), the Americas (45%), and Asia (10%), the new fund provides the firm with 80% more capital to deploy than from the predecessor €985m Fund III, said a media release from the Paris-based mid-market private equity firm.
The fundraising attracted support from both existing investors, with a re-up rate of 100%, and from 25 new relationships, the release said. BlackFin's global base of LPs is well diversified and includes Public Pension Funds, Sovereigns, Fund of Funds, Insurance & Asset Managers, Endowments, and Family Offices.
The close of Fund IV brings BlackFin's total assets under management to €4 billion across its complementary buyout and fintech strategies, cementing the firm's leadership in financial services private investments in Europe. With more than 110 transactions since its inception in 2009, BlackFin is by far the most active investor in this space in Europe.
As per the company, Fund IV will continue BlackFin's highly successful investing strategy across asset-light financial services subsegments. Insurance brokerage and processing platforms, wealth-management and financial advisory, asset management, payments, and financial software or processing providers benefit...................... To view our full article Click here
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