Category Archives: News

LMtec Digital Solutions completes rebranding to Emixa

Holland Capital

Naarden, June 10th, 2024 – Our portfolio company Emixa, the leading SAP/Siemens/Mendix technology partner, is finalizing the latest phase of its rebranding to one brand. The most recent acquisition LMtec Digital Solutions rebrands to Emixa DACH as of today!

LMtec Digital Solutions is a leading consultancy partner in Germany and Switzerland, specialized in providing Product Lifecycle Management (PLM) solutions, including management consultancy, maintenance and technical support. The partnership with Siemens Digital Industry Solutions, as well as SAP and Mendix contribute to their vision of playing a significant role in the digital transformation of the manufacturing industry, also known as ‘Industry 4.0’. The collaboration within Emixa offers its clients enhanced and more extensive services and its employees opportunities for international development within the wide range of services, technologies, and countries where the group operates.

 

Emixa’s expansion into DACH region

The acquisition of LMtec Digital Solutions in September 2023 has been an important step in Emixa’s international expansion strategy. Including LMtec, Emixa employs over 530 professionals, focusing on Product Lifecycle Management (PLM), Enterprise Resource Planning (ERP), IT architecture, low-code applications, system integrations and process optimization, primarily targeting the manufacturing industry. The group aspires to become one of the leading players in Western Europe, with a clear focus on the manufacturing industry, and has its operations in the Benelux, the United Kingdom, Ireland, Germany and Switzerland.

Peter-Jan Simons, CEO of Emixa, commented: “I am excited about his next phase of moving towards one brand including LMtec as this offers our clients and colleagues the great opportunity to extend our services and deliver projects and support on an international scale.”

Peter Wassmer, Managing Partner of LMtec Digital Solutions, stated: “The Emixa brand is being recognized as a leading specialist capable of delivering solutions based on SAP/Siemens/Mendix technology. Now Emixa can act as a trusted digital partner for our clients in addressing their digital challenges.”

 

About LMtec Digital Solutions

LMtec, founded in 2014, provides digital transformation consultancy, architecture, and implementation of PLM solutions, licenses, and IT services across all industrial sectors. With a team of more than 70 experts in Central Europe, its mission is to enable valued customers to innovate and bring better products and services to the market more quickly. They achieve leading innovation through in-depth industry knowledge, PLM best practices, unique processes, and technological skills. LMtec is a Smart Expert Partner of Siemens Digital Industries Software, SAP and Mendix in the DACH region.

 

About Emixa

Emixa offers its clients innovative, high-quality, full-service solutions in the field of digital transformation, with a special emphasis on the manufacturing industry, also known as ‘Industry 4.0,’ using Siemens (PLM), SAP (ERP), Mendix (Low Code Applications), complemented with Management Consulting, Integration Solutions and Data & Analytics practices.

The group operates in the Benelux, the United Kingdom, Ireland, Germany and Switzerland. The foundation for Emixa was established in 2021 with an extended journey in 2022 and 2023 when the companies Appronto, cards PLM Solutions, Dimensys, LMtec, Magnus, and OnePLM joined forces with the support of Holland Capital.

 

About Holland Capital

Holland Capital has been responsibly and successfully investing in promising Dutch and German SMEs with growth ambitions for over 40 years. The team understands entrepreneurship and fosters an open, sustainable, and professional relationship with the management teams of the invested companies, aiming for mutual growth. With offices in Amsterdam and Düsseldorf, Holland Capital focuses on Healthcare, Technology, and the Agrifood-Tech sector. Holland Capital has been involved in Emixa as a shareholder since 2020. She actively supports management in the strategic development of the company.

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Thermatras partners with Mentha Impact to accelerate growth

Mentha

Mentha Impact has entered into a partnership with Thermatras, a company specializing in measuring, producing, and installing thermal insulation in the form of sustainable insulation mattresses. The goal of this collaboration is to further leverage the existing growth potential and maximize the correlated CO2 reduction.

For over 40 years, Thermatras has been delivering a high-quality, sustainable custom product. The insulation mattress is used to reduce heat loss in technical systems and is made of fiberglass filled with insulation material. Thermatras serves the shipping, industrial, and utility sectors.

Alexander Norder, Managing Director of Thermatras: “Having Mentha Impact as a shareholder is a great opportunity for Thermatras. They are committed and bring extensive knowledge and experience in helping organizations maximize their potential. I am confident that together we can realize Thermatras’ ambitious growth plans.”

Edo Pfennings, partner at Mentha Impact: “We are very excited about this partnership. Thermatras is an excellent company operating in a clearly growing market where growth goes hand in hand with further CO2 reduction by reducing heat loss. The management team, together with us, has great ambitions to fully capitalize on the opportunities available and maximize impact as a result.”

Thermatras is the first investment of the Mentha Impact Fund.

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Ardian acquires 100% stake in CampusParc, concessionaire of the Ohio State University’s parking system

Ardian

Deal marks Ardian’s first transportation / P3 investment in the US.

Ardian, a world-leading private investment house, today announces that it has acquired a 100% stake in CampusParc, the concessionaire that manages, operates, and maintains the parking facilities at The Ohio State University’s flagship campus in Columbus, Ohio. Ardian acquired the company from funds managed by QIC.

Formed in 2012 as a Public-Private-Partnership (P3), CampusParc is the first and largest university parking concession in the US with over 38,000 total parking spaces. It provides parking for students, faculty, staff and visitors at The Ohio State University – the fifth largest public university in the US with more than 90,000 students and faculty – as well as the staff and visitors at Wexner Medical Center, a nationally recognized research facility and teaching hospital located on campus.

CampusParc, which has a strong track record and working relationship with The Ohio State University and other key local stakeholders over the past 11 years, is operating under a 50-year Concession Lease Agreement, with 39 years remaining. Working alongside the management team, Ardian will support CampusParc in its overall operations to deliver essential parking solutions and maintenance of assets that drive customer satisfaction. It will also leverage digital strategies from across its infrastructure portfolio to optimize CampusParc’s operations and performance. Additionally, it will leverage its ESG expertise to implement additional sustainability initiatives for the company.

Ardian’s Infrastructure team has a long track record of experience developing and acquiring essential infrastructure assets across the global transportation, energy, and digital infrastructure sectors. This transaction will be made through the Ardian Americas Infrastructure Fund V (AAIF V) and complements Ardian’s existing infrastructure portfolio in the Americas.

“CampusParc is Ardian’s first transportation investment in the US, and it’s an ideal fit within the broader strategy of our Americas fund. We are particularly excited to work with such a strong management team and support its commitment to the growing community. We look forward to assisting CampusParc in the years ahead and working closely with The Ohio State University, a premier academic institution.” Stefano Mion, Co-Head of Infrastructure Americas, Ardian

“This transaction marks an exciting milestone for our essential infrastructure strategy in the Americas. We admire CampusParc’s innovative solutions and customer-centric approach, and together, we look forward to leveraging our collective strengths to enhance the customer experience.” Leonarda Orani, Managing Director Infrastructure, Ardian

No additional financial details were disclosed.

LIST OF PARTICIPANTS

  • ARDIAN

    • FINANCIAL ADVISOR: SOLOMON PARTNERS
    • LEGAL: ORRICK
    • TECHNICAL: BTY GROUP
    • COMMERCIAL & MARKET: ALG
    • FINANCIAL: PWC
    • TAX: LEO BERWICK
    • INSURANCE: ALLIANT

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,600 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

MEDIA CONTACTS

ARDIAN

THE NEIBART GROUP MAEVE MALONEY

ardian@neibartgroup.com+1 781 987 4287

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Platinum Equity Portfolio Company Hop Lun Acquires P.H. Garment

Platinum

LOS ANGELES and HONG KONG (June 6, 2024) – Platinum Equity portfolio company Hop Lun, one of the world’s largest designers and manufacturers of intimate apparels, announced today the acquisition of P.H. Garment.

Headquartered in Hong Kong, P.H. Garment is an innovative private label manufacturer of high-quality bras, shapewear and performance-driven active wear for world renowned fashion brands.

The company has three manufacturing facilities in Bangladesh and China and provides a full range of design and production services, including expertise producing bonded products (fusing fabrics seamlessly using heat or adhesive).

“We are continuing to seek opportunities for Hop Lun to expand and diversify its capabilities, increase scale and add more value for its customers. We are working with Erik and the company’s leadership team to identify and pursue additional opportunities for growth, both organically and through strategic M&A.”

Jacob Kotzubei and Matthew Louie, Co-President and Managing Director, Platinum Equity

“We welcome the P.H. Garment team to the Hop Lun family,” said Erik Ryd, Founder and CEO of Hop Lun. “We believe our businesses are highly complementary are excited to work together leveraging our combined expertise to give even better service to our customers. P.H. Garment’s expertise in bonded products, in particular, will open new avenues for growth at Hop Lun.”

Eddie Wong, Founder and Executive Director of P.H. Garment said: “The P.H. Garment team is excited to join Hop Lun and we look forward to leveraging Hop Lun’s resources, design capability and manufacturing scale to expand our services and solutions for our customers.”

Based in Hong Kong, Hop Lun employs more than 26,000 people and has manufacturing operations in Bangladesh, China and Indonesia. The company produces products for many of the world’s largest global retailers as well as for its own in-house brands.

PH Garment is the second add-on acquisition Hop Lun has completed in the last six months. In December 2023 Hop Lun acquired Rainbow West Apparel.

“We are continuing to seek opportunities for Hop Lun to expand and diversify its capabilities, increase scale and add more value for its customers,” said Platinum Equity Co-President Jacob Kotzubei and Managing Director Matthew Louie in a joint statement. “We are working with Erik and the company’s leadership team to identify and pursue additional opportunities for growth, both organically and through strategic M&A.”

Latham & Watkins LLP provided legal counsel to Hop Lun on the acquisition of P.H. Garment.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.

About Hop Lun

Established in 1992 and headquartered in Hong Kong, Hop Lun is the leading designer and manufacturer of intimate apparels, and is the largest global provider of bra solutions.  It employs over 28,000 people across its global operations in Bangladesh, Indonesia, China and Hong Kong.

About P.H. Garment

Founded in 1988 in Hong Kong, P.H. Garment has grown into a premier private label manufacturer for innovative high-quality bras, shapewear and performance driven active wear through pioneering manufacturing know-how, a robust talent pool and strong customer relationships.  The company has three manufacturing plants in Bangladesh and China.

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TDR Capital to become majority owner of ASDA

Tdr Capital

We are pleased to announce that TDR Capital has agreed to acquire Zuber Issa’s shares in ASDA and will become the majority shareholder with 67.5% ownership. The transaction is expected to complete in Q3 2024.

TDR Capital invested in Asda alongside the Issa brothers, and together they took majority ownership of the business in June 2021. Since then, together with the other shareholders, TDR has supported Asda to accelerate its strategy, with a particular focus on delivering low prices to customers and expanding into the fast-growing convenience retail segment.

Gary Lindsay and Tom Mitchell, Managing Partners of TDR Capital, said: “We first invested into Asda over three years ago, seeing a huge opportunity to cement its position as one of the UK’s leading retail brands.”

“By combining our investment and sector expertise with Asda’s heritage of delivering value for customers, we have already made significant progress in transforming Asda. We have added a scale convenience business, grown Asda’s store footprint from 623 to 1,200 stores and food-to-go sites, and launched a hugely successful loyalty app, which now has six million active customers, accounting for around half of total sales. We remain focused on investing in Asda’s stores and online, as well as its colleagues through the highest pay in the traditional supermarket sector, to drive sustainable, long-term growth.”

“As majority owners, we will continue to work closely with the Asda management team and colleagues across the business to support its growth strategy, which we believe is the right one to continue to move Asda forward.”

Learn more about our investment in ASDA.

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Kennet closes largest fund to date at €266m as cumulative assets under management surpass €1.3bn

Kennet Partners

London, United Kingdom – July 2024

Kennet has raised €266 million for its largest fund to date, Kennet VI. Kennet has already begun to deploy this capital into capital efficient B2B SaaS companies across Europe, including Screendragon in Ireland and the UK and Fluid Topics in France.

Kennet VI builds on the success of the previous five funds and proven investment thesis. Kennet has over 25 years of experience and a proven track record across multiple market cycles. Not only has the firm raised its largest ever fund in a challenging macro environment, it has also continued to deliver exits, such as Eloomi in January 2024 generating a 3.1x cash multiple. This follows numerous successful exits in recent years including Nuxeo (5x), Dext (3.8x), CrossBorder Solutions (6.4x), Rimilia (2.5x), and Impartner (2.6x).

Kennet focuses exclusively on investing in established, high growth B2B SaaS technology companies which are founder-owned and either highly capital efficient or fully ‘bootstrapped’ – built without external capital. The investment from Kennet is typically the first external funding that companies receive and is used to scale and expand internationally, build world class management teams and build strategic value.

Michael Elias, Managing Director, said: “This fundraise marks another important milestone for Kennet as we close our largest fund to date, with a significant number of previous investors participating in this fund. At a time when the market has recognised that ‘growth at any cost’ is no longer rational, our long-standing conservative strategy has appealed to investors. Kennet’s risk-balanced strategy provides investors with the growth associated with innovative technology, while maintaining a low failure rate. We have proven over numerous fund cycles that capital efficient B2B SaaS businesses offer attractive investment opportunities and that helping entrepreneurs build outstanding management teams and enter global markets remains a winning formula.”

Hillel Zidel, Managing Director, said: “Our proven approach is based on the relationships we establish with bootstrapped founders, understanding that this will be a long-term trusted partnership. Unlike venture-backed businesses, our founders have typically not taken external investment before – they need to know they are working with the right team to realise their global ambitions. We are very proud that founders choose to work with Kennet because of our deep market knowledge, and reputation for fairness and integrity. This has enabled us to invest in great companies at sensible valuations regardless of the hype cycle. B2B software has become the engine room of many sectors, and Kennet VI will be at the forefront of the next generation of mission critical, scaling businesses.”

Kennet VI was raised as part of a successful partnership with Edmond de Rothschild Private Equity (EdRPE) which began in 2017. Edmond de Rothschild is a cornerstone investor in the Kennet VI fund and the bank’s global client base has had priority access to the fund. British Patient Capital, Federated Hermes Private Equity and Bpifrance also committed to the fund.

Francois-Xavier Vucekovic, CIO at Edmond de Rothschild Private Equity, adds: “We firmly believe that technology plays a critical role in the transformation of our economies and societies. Our commitment is to support and nurture companies that are at the forefront of innovation and value creation. The success of this fundraising effort, particularly in the current challenging environment, is a testament to the strength and relevance of Kennet’s strategic approach. By leveraging cutting-edge tech solutions, Kennet ensures the sustainability and growth of their clients’ business models, enabling them to thrive in a rapidly evolving market.”

ABOUT EDMOND DE ROTHSCHILD

As a conviction-driven investment house founded upon the belief that wealth should be used to build the world of tomorrow, Edmond de Rothschild specialises in Private Banking and Asset Management and serves an international clientele of families, entrepreneurs and institutional investors. The group is also active in Corporate Finance, Private Equity, Real Estate and Fund Services. With a resolutely family-run nature, Edmond de Rothschild has the independence necessary to propose bold strategies and long-term investments, rooted in the real economy. Founded in 1953, the Group had more than CHF 163 billion in assets under management at the end of December 2023, 2,600 employees, and 28 locations worldwide.

PRESS CONTACT:

KENNET: Andrew Malone – kennet@fieldhouseassociates.com

EDMOND DE ROTHSCHILD AM: Fany de Villeneuve : +33 6 46 24 69 38 – f.devilleneuve@edr.com

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SMG Sportplatzmaschinenbau GmbH teams up with Gimv to further accelerate global expansion

GIMV

Topic: Investment

Vöhringen, Bavaria – Founded in 1975, SMG Sportplatzmaschinenbau GmbH (www.smg-machines.com) has established itself as a global leader in the development and manufacturing of cutting-edge machines for the sports industry and today used by elite teams such as Real Madrid, FC Bayern Munich, and the Miami Dolphins. Together with Tobias and Daniel Owegeser, who remain involved as shareholders, Gimv is set to accelerate the further growth and international expansion of SMG.

SMG’s impressive portfolio includes specialized machines used in a wide array of sports and recreational settings – from playgrounds and athletics tracks to private tennis courts and soccer (training) grounds. For almost 50 years, SMG has been a trailblazer in the synthetic sports surfaces and artificial turf sectors, offering machines that expertly mix components, lay base layers, and line surfaces. Their innovative artificial turf machines are renowned for precision backfilling and maintenance, employing advanced self-propelled and ride-on technology.

With all development and production taking place in Germany, SMG collaborates closely with leading material manufacturers and installation companies to ensure top-tier quality. Boasting a global clientele of over 1,200 customers, the company is supported by 55 dedicated employees in Vöhringen and an extensive network of independent sales partners worldwide. Notably, the USA represents SMG’s largest market, with prestigious clients across high schools, colleges, universities, and American Football Clubs.

Now, with Gimv’s partnership, SMG is set to embark on the next phase of its remarkable journey. The expertise of Gimv as new majority shareholder will be instrumental in fueling further international growth with spearheading products to the next level.

Details of the transaction remain confidential.

Daniel and Tobias Owegeser, co-owners of SMG, declare: “We have already grown significantly in recent decades and have laid the foundations for the successful expansion of our business, particularly in the USA. Together with our father Johann and our brother Markus, we have decided that we want to team up with a strong partner to further boost our growth story in the years to come.  Jointly with Gimv, we now want to take the next steps towards internationalization and make targeted use of the many opportunities abroad.”

Ronald Bartel, Partner Smart Industries, declares: “With SMG, we are delighted to welcome an exceptional and impressive new technical and industrial addition to our Smart Industries platform. We are deeply convinced of the product as well as the owners and management team and look forward to supporting SMG on its global growth path.”

 

Read the full document
 

Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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FleetGO Group strengthens its position with the addition of Data2Track

Main Capital Partners

FleetGO Group, a leading provider of logistics software solutions, has acquired Dutch-based software provider Data2Track with the support of Main Capital Partners.

This marks the third strategic acquisition since Main Capital Partners’ initial investment, which resulted in the formation of the FleetGO Group. The integration of Data2Track will enhance FleetGO Group’s product suite and reinforce its technological leadership.

Data2Track, headquartered in Barneveld, Netherlands, has been a pioneer in integrated software solutions since 1995. Their cloud-based fleet management system, encompassing fleet analytics, time registration, and a Drivers App, is essential for optimizing logistical operations. Data2Track’s innovative, fully cloud-based mobile solutions offer a competitive edge in the market. They serve approximately 420 clients, predominantly in the Netherlands, including Verhoeven.eu, Schotpoort Logistics, and Koopman Logistics.

FleetGO Group offers a comprehensive suite of software solutions for transport management, warehousing, route optimization, telematics, and fleet management. With a robust presence in the DACH and Benelux regions, the addition of Data2Track’s cloud-based platform aligns with FleetGO’s strategy to deliver a holistic suite encompassing transport and order management, warehousing, asset management, route planning, telematics, tacho compliance, and fleet management. Notably, Data2Track’s Drivers App complements FleetGO’s offerings, enhancing service capabilities for both existing and new customers.

The combined product offering, shared expertise, broad geographical reach, and technological leadership position FleetGO Group to leverage the benefits of consolidation, economies of scale, technological integration, and growth.

Ronald van Tiel, CEO at FleetGO Group, says: “Data2Track is a perfect addition to FleetGO Group’s product range. The fleet management applications and the Drivers App fill a crucial gap, enabling us to offer a more comprehensive suite from a single provider. Our and Data2Track’s customers will benefit significantly from this enhanced offering.”

Rob Bouwer, Commercial Director at Data2Track, commented: “Joining forces with FleetGO allows Data2Track to advance to the next level. This integration combines two leading software providers, offering substantial potential and enabling us to maximize our capabilities within a larger group. The synergies created will provide significant added value to our customers.”

Sven van Berge, Head of DACH activities at Main Capital Partners, concludes: “The acquisition of Data2Track by FleetGO is a strategic and intelligent move. Data2Track’s solutions will expand FleetGO’s portfolio, closing critical gaps and adding experienced professionals who will strengthen FleetGO’s market position as a leading logistics software provider in Europe.”

The acquisition of Data2Track by FleetGO is a strategic and intelligent move.

– Sven van Berge Henegouwen, Head of DACH activities at Main Capital Partners

About

FleetGO Group

FleetGO Group is a pan-European logistics software company providing an extensive suite for warehouse, transportation, and fleet management. Founded in 2010, FleetGO quickly established a strong market presence with advanced telematics solutions. The company expanded significantly through a strategic combination with Wanko Informationslogistik in 2022. FleetGO’s cloud-based platform serves over 6,500 customers across Europe and is headquartered in Hattem, the Netherlands, with over 170 professionals dedicated to operational efficiency.

Data2Track

Data2Track is a software provider specializing in transport solutions, founded in 1995 and headquartered in Barneveld, the Netherlands. The company offers comprehensive track and trace systems, board computers, and innovative fleet management software. Data2Track is recognized for continuous innovation, including the development of a proprietary Drivers App, serving approximately 420 international customers across various industries.

Fenne Bijl

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IMV Technologies Group acquires Medivet Scandinavian AB

Montagu

Medivet are a leading provider of Veterinary DR X-Ray systems and other veterinary imaging modalities, based in Angelholm, Sweden with a reach throughout Scandinavia. Under the leadership of Torbjörn Hallenheim the business has developed into one of Scandinavia’s leading providers of veterinary imaging solutions.

Torbjörn comments that “we are totally thrilled to be joining the IMV Technologies group to provide us with the resources and market knowledge that will help us take our business to the next level, IMV Technologies provides us with a natural partnership in this exciting and growing market.”

IMV Technologies provides us with a natural partnership in this exciting and growing market.

Torbjörn Hallenheim, Owner & CEO, Medivet Scandinavian AB

Alain de Lambilly; CEO of IMV Technologies, adds that “Medivet is a fabulous business, and we are delighted to welcome Torbjörn and his team to IMV Technologies. We have been very impressed by the dedication shown to outstanding customer service by the Medivet team in providing the very best products and services to their clients across Scandinavia. At IMV one of our core values is Excellence and we see an amazing commitment at Medivet to ensuring their clients have the tools and knowledge to provide the best possible animal care. Medivet will join our growing and successful Companion Animal Imaging business, bringing additional experience and products – in particular their MERS Equine X-Ray technologies to our comprehensive product offering.”

Medivet is a fabulous business, and we are delighted to welcome Torbjörn and his team to IMV Technologies.

Alain de Lambilly, CEO, IMV Technologies Group

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Aquiline Raises Over $3.4 Billion of Fund Capital

Aquiline

NEW YORK and LONDON, June 6, 2024 /PRNewswire/ — Aquiline Capital Partners LP (“Aquiline” or “the Firm”), a private investment firm dedicated to financial services and related technologies, today announces that it has raised more than $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 close of its continuation fund, Aquiline Financial Services Continuation Fund L.P. (“Continuation Fund”).

With over $2.3 billion in capital commitments, AFS V is Aquiline’s largest fund to date, significantly exceeding the size of its predecessor. 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.

Concurrently, Aquiline has closed on approximately $1.1 billion of capital commitments in its Continuation Fund, including a meaningful lead investment from HarbourVest Partners (“HarbourVest”). The continuation fund was established to acquire select portfolio companies in Aquiline Financial Services Fund II L.P. (“AFS II”) and Aquiline Financial Services Fund III L.P. (“AFS III”). The transaction offered investors the opportunity to capture future value creation while providing existing limited partners with an option for accelerated liquidity. 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, as well as 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.

“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,” said Igno van Waesberghe. “We already have strong momentum in AFS V, with capital deployed across multiple investments, and look forward to continuing the value creation journey.”

Since its formation in 2005, Aquiline has been committed to its strategy of working with companies to solve the financial industry’s biggest challenges. With a global presence and rigorous industry analysis, Aquiline can identify industry trends, both big and small, that create meaningful change in the delivery of financial services. The Firm has built deep, 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.

“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,” said Vincenzo La Ruffa. “Along with our geographic and industry reach, this makes us a powerful partner for industry leaders, entrepreneurs, and innovators alike.”

Notes to Editors

About Aquiline Capital Partners LP

Aquiline Capital Partners LP is a private investment firm based in New York, London, Philadelphia, and Greenwich, Connecticut, that is dedicated to financial services and related technologies. The Firm has approximately $10.4 billion in assets under management as of March 31, 2024.

For more information about Aquiline, its investment professionals, and its portfolio companies, visit www.aquiline.com.

About HarbourVest Partners, LLC

HarbourVest is an independent, global private markets firm with over 40 years of experience and more than $125 billion of assets under management as of December 31, 2023. HarbourVest’s interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. HarbourVest’s strengths extend across strategies, enabled by its team of more than 1,150 employees, including more than 230 investment professionals across Asia, Europe, and the Americas. Across its private markets platform, the HarbourVest team has committed more than $59 billion to newly formed funds, completed over $53 billion in secondary purchases, and invested over $39 billion in direct operating companies. HarbourVest partners strategically and plans its offerings innovatively to provide its clients with access, insight, and global opportunities.

For further information please visit www.harbourvest.com.

Media Contacts

Apella Advisors – email: aquiline@apellaadvisors.com.

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