J.C. Flowers & Co., a private investment firm concentrated on the global financial services sector, has completed fundraising for its fifth private equity fund, J.C. Flowers V LP. The Fund closed with over $1.1 billion in capital commitments.
The limited partners that contributed to the fund are made up of corporate pension funds, sovereign wealth funds, insurance firms, foundations and endowments, and family offices. The firm will look to target investments across all sub-sectors of the financial services industry. To date, the fund has already invested or announced investments in Ariel RE, Inigo Insurance, iLendingDirect, Insigneo Financial Group, LMAX Group, Tricor Insurance, and Solomon Wealth, representing around 40 percent of the fund.
“We are grateful for the support from both our existing and new limited partners which allowed us to surpass our target, especially given the backdrop of uncertainty over the last two years,” said Chris Flowers, CEO of J.C. Flowers. “Our firm has built a deep bench of talented executives with significant financial services expertise, which has made us uniquely qualified to identify interesting investments through changing market conditions. We look forward to continuing to source, evaluate and invest in financial services opportunities worldwide where we can add significant value.”
Simpson Thacher & Bartlett LLP served as legal adviser for the Fund.