Partnering with businesses that offer solutions to the financial services industry
We invest in growth-oriented financial services and technology businesses between $75 million to $2.5 billion enterprise value, and platform add-on acquisitions of any size
We are flexible from minority to buyout and look to invest $50 to $350 million of equity, either funded at once or over time. We can speak for substantially larger equity investments through co-investment from our limited partners. Our team is adept in managing complex carve-outs and intricate transactions
Typical Investment Profile
$75m - $2.5b
$50m - $350m
Majority / minority
Private equity portfolio
ABC Legal is a national, tech-enabled legal logistics and document management business focused on service of process. Founded in 1984 and serving over 2,000 customers nationwide, the company leverages its leading technology solutions to provide rapid, accurate and compliant services to its customers. ABC Legal also offers e-filing, skip-tracing and appearance counsel services.
AccuServe is a technology-enabled managed repair network for the residential property and casualty industry.
Group Ark Insurance Holdings, through its Ark Syndicate Management Limited subsidiary, underwrites a diversified and balanced portfolio of reinsurance and insurance business. The company provides marine and energy, accident and health, property, specialty, casualty, and reinsurance products. Its marine and energy coverage includes marine hull, cargo, and specie; marine and energy liability; and energy upstream physical damage insurance. The company’s accident and health insurance solutions include health direct and facultative and accident and health reinsurance; and property insurance products include direct and facultative, and reinsurance. It also offers specialty insurance in the areas of specialty reinsurance, political risk and aviation war, contingency, and product recall, as well as war, terrorism, and political violence; and casualty insurance, such as medical malpractice, professional liability, general liability, automobile liability, and workers compensation. The company was incorporated in 2006.
Armour is a global leader in the property and casualty (“P&C”) run-off insurance industry. Armour is a group consisting of licensed (re)insurers and service companies that acquire discontinued portfolios from insurers who are looking to free up capital and claims management resources.
Artivest is a leading provider of premier alternative investment strategies designed for financial professionals and individuals seeking to improve their portfolio diversification. Artivest follows a disciplined process for identifying, evaluating, selecting and monitoring investment talent across a spectrum of alternative strategies including managed future, global macro, long/short equity, private equity, event-driven and others.
Ascensus is an independent retirement and college savings services provider in the United States, helping over 6 million Americans save for the future. With more than 30 years of experience, the firm partners with financial institutions to offer tailored solutions that meet the needs of financial professionals, employers, and individuals. Ascensus specializes in recordkeeping, administrative, and program management services, supporting over 40,000 retirement plans and over 3.3 million 529 college savings accounts. It also administers more than 1.5 million IRAs and health savings accounts.
Aspirion is a specialty revenue cycle management vendor focused on helping hospitals and health systems process complex healthcare claims. Aspirion’s current focus is on workers compensation, motor vehicle accident, and veterans affairs cases, which are time- and labor-intensive to process relative to traditional commercial healthcare claims.
AssetMark is a leading independent provider of innovative investment and consulting solutions serving financial advisors. The firm provides investment, relationship, and practice management solutions that advisors use to help clients achieve their investment objectives and life goals.
Avel eCare is a provider of virtual care to more than 600 health care systems, rural hospitals, outpatient clinics, long-term care facilities, assisted livings, and schools across the country. The company’s innovative platform has developed expertise in delivering virtual care across behavioral health, emergency, hospitalist, ICU, pharmacy, school health, senior care, and specialty clinic settings.
Beach is a leading independent specialty reinsurance intermediary with a reputation for innovative reinsurance placements for complex and technical books of business. Operating in London, Bermuda, Toronto, and New York, Beach works with major insurance companies to understand and achieve corporate risk management goals through the purchase of reinsurance.
BinckBank N.V. is an online bank for investors. Its core business is providing a comprehensive, user-friendly website that allows private investors to invest easily and quickly anywhere in the world at competitive rates. In addition to its online brokerage, BinckBank provides asset management services through its Alex Asset Management product. BinckBank is ranked in the top five online brokers in Europe and has repeatedly received awards as the best online broker in the Netherlands, Belgium and France. In addition to its branch offices in the Netherlands, Belgium, and France, BinckBank also has branch offices in Italy and a sales office in Spain.
BISAM is a provider of sophisticated digital solutions for performance, attribution, market risk, portfolio construction, GIPS composites management, and reporting. Many of the world's largest asset managers use BISAM's best-in-class portfolio analytics platforms to evaluate and enhance their investment strategies and better service their clients, while maintaining high levels of security, transparency, process control and operational scale.
Clear2Pay is an innovative payments technology company focused on delivering globally applicable solutions for secure, timely and streamlined payments processing. Clear2Pay’s Open Payment Framework (OPF) enables financial institutions to improve internal payments processing efficiencies whilst at the same time providing their clients with better payment services that are faster, with richer payments related information. Clear2Pay was acquired by FIS™ (NYSE: FIS) in 2014.
ClearCourse is a holding company based in London that was formed by Aquiline to acquire group membership management and payments businesses. ClearCourse aims to acquire businesses across a range of vertical markets, and drive increased growth and profitability through, capital investment, monetization of embedded payments, and operational support.
CoAdvantage is a leader in human resource solutions, providing Professional Employer Organization (PEO) services to small and medium-sized businesses nationwide.
Conning is a leading investment management company for the global insurance industry, with assets under management through Conning, Inc.; Conning Asset Management Limited; Cathay Conning Asset Management Limited (CCAM); Goodwin Capital Advisers, Inc; and Conning Investment Products, Inc. The company's unique combination of asset management, risk and capital management solutions, and insurance research helps clients achieve their financial goals through customized business and investment strategies. Founded in 1912, Conning provides clients with innovative solutions, leveraging its global capabilities, investment experience, proprietary research and risk management technology. Conning delivers its services globally through its offices in Connecticut, New York, London, and Cologne, and in Hong Kong through CCAM, a joint venture between Conning and Cathay.
Consilio is a global leader in eDiscovery, document review, risk management, and legal consulting services. The company has over 4,000 employees serving clients from more than 70 global regions across 11 countries. Consilio’s global operations supports small, mid-size, and large clients across numerous industries, including financial services.
Cordance is a North Carolina-based holding company, formed by Aquiline, to acquire founder-owned vertical software companies across numerous end markets. Cordance partners with its entrepreneurs to find the efficient frontier of growth through strategic support, enhanced resources, and the implementation of commercial best practices.
Core Specialty is an insurance holding company offering a diversified range of property and casualty insurance products for small to mid-sized businesses. From its underwriting offices spanning the U.S., the Company focuses on niche markets, local distribution, and superior underwriting knowledge; offering traditional as well as innovative insurance solutions to meet the needs of its customers and brokers.
Covius is a trusted provider of services, insight and technology to leading financial companies. Covius’ technology-enabled solutions deliver operational efficiencies, mitigate risk and empower compliant decisions and borrower interactions. Covius businesses are recognized leaders in credit and verification services, HOA and tax tracking, quality assurance, regulatory compliance, compliant document services, comprehensive settlement services, lien and title curative solutions, REO asset management and auction services, transactional due diligence as well as rapid-development, customizable cloud-based business process solutions. The company was named a 2020 HousingWire Tech100 winner.
CRT Capital Group was an institutionally focused broker-dealer delivering value-added research, trading, and banking services to its clients and security brokerage and research services to institutional accounts with established counterparty relationships around the world. CRT was founded in 1989.
CSI Leasing, Inc. is one of the largest privately held independent equipment leasing specialists in the world with customers in more than 36 countries and more than 70 offices around the world. The company is majority owned by employees and is a member of the Equipment Leasing and Finance Association and the Association of Service and Computer Dealers International.
Distinguished Programs is one of the largest independent program managers in the country. The Company underwrites and distributes insurance products across 14 programs with a technology-centric approach. Current programs include property and casualty products for the Real Estate and Hospitality markets, as well as prize coverage for golf hole-in-one and other prize indemnification products.
DocuPhase is a provider of accounting and finance process automation software, enabling finance teams to streamline invoicing and payment procedures, saving time, reducing errors, and lowering costs. The Company provides core software solutions across accounts payable automation, accounts receivable automation, and document management.
Elm Street Technology is a real estate technology and marketing solutions provider to the residential real estate industry. Elm Street offers a platform called Elevate, for real estate technology and marketing services, that provides a single vendor and point of contact to maximize business leads. The Elevate platform is used by tens of thousands of real estate agents, teams and brokerages across the United States.
Engs Commercial Finance is one of the oldest and most respected commercial finance companies in the United States, having financed equipment since 1952. Its industry-specific vendor finance programs are designed to help dealers and manufacturers sell more equipment and promote a higher percentage of repeat customers. ECF’s people, systems, policies, and procedures are designed specifically around the industries it serves with the goal of delivering best- in-class products and service to customers.
EverBank Financial Corp, through its wholly-owned subsidiary EverBank, provides a diverse range of financial products and services directly to clients nationwide through multiple business channels. EverBank places an emphasis on value, innovation and service, offering a broad selection of banking, lending, and investing products to consumers and businesses nationwide. EverBank provides services to clients through the internet, by telephone, through the mail, at its Florida-based financial centers, and at other business offices throughout the country.
Everfield is a holding company, formed by Aquiline, to buy, build and accelerate the growth of great founder-owned vertical software companies in Continental Europe. Everfield operates in a high velocity and decentralized manner, while leveraging best practices and providing support with key centralized tasks to enhance the growth, stability and profitability across its portfolio of software companies.
Fenergo is a provider of enterprise Client Lifecycle Management platform solutions designed to help financial institutions to manage the end-to-end regulatory onboarding process – from onboarding, to management of client and counterparty data and regulatory compliance with existing and emerging regulations.
First Investors Financial Services Inc., through its wholly-owned subsidiaries (“First Investors”) is an automobile finance company founded in 1988 to serve the special finance needs of automobile dealers and consumers. First Investors has created a unique business model that encompasses indirect and direct lending as well as portfolio acquisitions and third-party servicing. This multi-channel approach provides asset and revenue diversification as well as a deep understanding of the auto financing needs of both dealers and customers.
FirstSun Capital Bancorp is a regional community bank with over 60 locations in Colorado, Kansas, Missouri, New Mexico and Texas.
Fullsteam is a holding company focused on acquiring and growing saas businesses serving niche vertical markets such as rental management, nonprofit fundraising and self-storage. Leveraging centralized operations, technology, and payments capabilities, Fullsteam partners with its entrepreneurs to provide resources, operational best practices and payments processing solutions to drive growth across its portfolio of operating companies.
Health Prime provides revenue cycle solutions for hospital and office-based physician groups. Health Prime's technology-enabled solutions and services optimize workflows, improve profitability, and increase satisfaction for physicians and providers.
HedgeServ Holdings, a hedge fund and fund of hedge funds administrator, provides clients with improved access to critical information required to run their businesses, manage risk, execute trades, and build more robust and timely reports for their traders, investors, and regulators.
IQUW and ERS underwrite speciality and motor insurance respectively across two syndicates within the Lloyd’s of London market. Since our investment, management has rebranded the specialty lines syndicate as IQUW, which reflects the company’s repositioning as an agile business that will use data and intelligent automation to enhance its underwriting decisions.
Independent U.K. based employee benefits, investments and pension consultant focused on solving the complex benefit-related needs of HR and finance departments for UK corporates and multinationals.
LeaseCrunch is a leading provider of lease accounting and lease management software solutions in North America. The company delivers an easy-to-use software solution that addresses the biggest challenges of new lease standards ASC 842, IFRS 16, GASB 87, GASB 94 and GASB 96, particularly for CPA firms.
MDpanel is one of the preeminent providers of expert medical opinions in the U.S., serving physicians across a range of specialties. The company provides support for physicians performing medical evaluations as part of the insurance claims process. MDpanel aims to become the partner of choice for physicians, carriers, attorneys and injured workers by connecting those in need of medical opinions with the most qualified and highly regarded medical professionals.
Nexar Capital Group, an alternative asset manager, provided hedge fund-of-funds and proprietary hedge fund products to global institutional and high net worth investors. Its founding team was lifted out from Societe Generale. In April 2012, Union Bancaire Privee UBP SA acquired Nexar Capital Group.
Nimble provides end-to-end revenue cycle solutions for ambulatory surgery centers.
Ontellus is a national provider of outsourced medical records retrieval services to insurance companies and law firms, offering tech-enabled medical, billing and other claims related records procurement. Ontellus empowers insurance carriers, self-insured corporations and law firms to reduce costs, make informed decisions and accelerate claims resolution by leveraging decades of experience and cutting-edge technology.
OSG is a global provider of leading customer engagement and payment solutions. The company helps clients to integrate critical customer interactions, optimizing working capital and driving profitable business growth. These solutions connect the entire customer experience by aligning transactional, payment and marketing touchpoints for simplified operations and smarter engagement across a diversified variety of end markets, including financial services, real estate, healthcare and governments & municipalities.
PharmaForce is a 340B TPA providing innovative software to over 300 hospitals and health clinics nationwide that participate in the government-sponsored 340B program, helping them maintain compliance and maximize revenue capture.
Pillar Capital Management is a Bermuda-based insurance asset manager focused on collateralized reinsurance and catastrophe-linked securities. The company was initially founded as Juniperus Capital Limited. The initiative was to seek opportunities in insurance-related instruments. Pillar is jointly owned by members of the company’s management team and Transatlantic Holdings, Inc., creating an independent asset manager with strong institutional backing.
Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $11.7 billion in assets as of March 31, 2017. Pinnacle operates in 11 urban markets in Tennessee, the Carolinas and Virginia.
Planet DDS provides cloud-native, enterprise-grade practice management software to dental, orthodontic, and other oral care providers.
Founded in 1986, PrimePay is a leading national human capital management (HCM) technology and services provider to businesses ranging from 1 – 5,000 employees. PrimePay delivers highly configurable cloud-based software and services enabling clients to hire and retain great talent, manage and pay their workforce, and optimize their business in an everchanging compliance landscape.
Quicken is a leading provider of personal financial management software, enabling users to manage spending, create monthly budgets, track investments, and plan for retirement. The company has over 2 million users across its product suite.
Quintes Holding is one of the largest independent insurance brokers in the Netherlands. Since its founding in 2012, the company has built a national footprint of brokers with a focus on serving the Dutch SME sector.
Relation is one of the largest independent insurance brokers in the United States. Since its founding in 2007, Relation has built its strengths in specialized industries including agribusiness, education, employee benefits, public entities, transportation, and non-profits. The Company is committed to helping mid-market businesses navigate their insurance needs by building relationships and leveraging the right mix of people, partnerships, processes, and technologies.
RIA in a Box is a leading provider of compliance software to the wealth management industry. Approximately 2,000 registered investment advisor (RIA) firms across the US use the platform to manage their compliance procedures more efficiently. RIA in a Box assists with initial registration, provides ongoing compliance software post-formation, and helps compliance officers at larger firms to oversee more complex organizations. It also offers additional SaaS-based solutions for financial advisors such as CRM, billing and other operational tools.
Ripe Insurance is a digital insurance distribution and underwriting platform based in Manchester with over 285,000 policy holders. Since its founding in 1997, Ripe has grown rapidly serving a variety of customers across both personal and small commercial lines. Today, Ripe’s policies protects specialised needs across golf, boats, caravans, and cycles, as well as providing insurance to small business owners such as personal trainers, musicians, and photographers. Ripe's proprietary technology enables customers to "build their own policy", providing tailored solutions in an optimised online journey.
SageView Advisory Group is an SEC Registered Investment Advisory (RIA) firm serving retirement plan sponsors and individuals throughout the United States since 1989. The company advises on 401(k), 403(b), 457, defined benefit and deferred compensation plans. SageView is headquartered in Newport Beach, California with 25 offices nationwide.
Shelter Growth Capital Partners is a credit-focused, SEC registered investment management platform dedicated to building and managing diversified portfolios of mortgage-related instruments and other structured credit products. Shelter Growth is affiliated with SG Capital Partners LLC, a mortgage operating company, that provides investment managers with the opportunity to source loans and securities in the primary market.
Simplicity Financial Marketing is a New Jersey-based financial products distribution firm that specializes in providing insurance, investment and business development solutions.
Simply Business is a technology-driven insurance broker/managing general agent operating in the United Kingdom in commercial lines for small and medium enterprises.
Smart is a global savings and investments technology platform provider. It offers a single global retirement technology platform that allows employers, financial institutions, and governments to deliver for the needs of their customers and their citizens, and adapt to ongoing changes in legislation.
Structured Credit Holdings PLC is a Dublin-based company established to provide volatility protection to banks through bespoke credit derivative contracts.
SurePoint is a leading cloud provider of practice management solutions to law firms. SurePoint's comprehensive, end-to-end platform enables law firms to run efficiently and includes financial management, payment processing, mobile timekeeping, business intelligence and real time reporting.
TigerRisk Partners is a privately held reinsurance broker and risk/capital management advisor providing sophisticated advisory and intermediary services to insurers with complex risks.
Togetherwork is the emerging leader in software and payments for groups and organizations of all kinds, helping them grow, become more efficient, increase revenues, and provide excellent service to their members and constituents. Building on the foundation of the Aquiline Financial Services Fund III L.P. investment in OmegaFi, Togetherwork aims to acquire software companies in adjacent verticals, creating a family of companies that provide similar technology and services to broader organizations such as sports leagues, summer camps, and cultural and educational institutions.
Tourmalet Advisors is an SEC-registered alternative investment advisor that manages, invests in, structures, and trades distressed residential mortgage assets. The firm’s objective is to generate outsized returns through the purchase, servicing, and liquidation of non-performing residential whole loans. Tourmalet manages equity capital through its Matawin Funds and separately managed accounts.
Validus Holdings, Ltd. is a holding company for reinsurance and insurance operating companies and investment advisors including Validus Reinsurance, Ltd. (“Validus Re”), Talbot Holdings Ltd. (“Talbot”), Western World Insurance Group, Inc. (“Western World”) and AlphaCat Managers, Ltd. (“AlphaCat”). Validus Re is a Bermuda-based reinsurer focused on short-tail lines of reinsurance. Talbot is the Bermuda parent of the specialty insurance group operating primarily within the Lloyd's insurance market through Syndicate 1183. Western World is a U.S. specialty lines insurance company focused on excess and surplus lines. AlphaCat is a Bermuda- based investment adviser managing capital for third parties and the Group in insurance linked securities and other property catastrophe reinsurance investments.
Virtus provides alternative asset administrative and middle office services and data to funds and various investment vehicles including hedge and private equity funds, separate accounts, total return swaps, and collateralized loan obligations. With offices in Houston, Austin, New York, Shanghai and London, Virtus specializes in tailored middle office solutions for managers looking to outsource their fixed-income requirements.
VirtusLab is a Poland-based software development and consulting company employing over 300 team members with customers including leading blue-chip companies.
Wealth at Work partners with over 450 private and public sector employers to provide financial education, guidance, and personalized financial advice to their employees.
Headquartered in Fort Worth, Texas, Wellington is a full-service managing general agent platform deploying third-party admitted capacity in the Texas residential property insurance market. The company provides insurance carriers with a range of services including product design, pricing, underwriting, policy issuance, policy administration, billing, premium finance, and claims adjusting and administration. Wellington’s model is differentiated by its tech-enabled, multi-carrier platform which allows for more pricing flexibility and granular risk segmentation to achieve targeted carrier returns in a larger segment of the residential market than its traditional market competitors.
Worley Claims Services is one of the largest independent providers of insurance-adjustment management and services in the United States. Since 1976, Worley has consistently aided in balancing claims, recovering costs, and overseeing public relations following natural and man-made environmental events. Worley provides property, auto, personal lines, and casualty claims adjustment and related services to national and regional insurance companies as well as commercial clients and clients in the federal/state government sector.
Formed in 2018, Woven was a holding company that consolidated the middle market business process outsourcing (“BPO”) market, with a particular focus on customer contact centers. Woven focused on acquiring small and mid-sized BPOs with a fragmented footprint and invested in technology and management capabilities to improve client proposition and company profitability.
The Wright Insurance Group was a manager of specialty insurance pools on a fee-based model in markets including schools, municipalities, and government programs such as the Federal Flood Insurance Program. In January 2014, Aquiline announced Wright's sale to Brown & Brown, Inc. (NYSE: BRO).
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