NY-CORSAIR-CAPITAL
Corsair Capital LLC (“Corsair”), one of the longest standing private equity firms focused on business and financial services, today announced the successful final close of its fifth fund, Corsair V, with $1.0 billion of limited partner commitments, and an additional $264 million of co-investment capital that has been invested alongside Corsair V to date. Corsair V met its target of $1.0 billion thanks to strong interest from new and existing limited partners. Corsair’s previous fund, Corsair IV, had $863 million of committed capital.
Corsair V will seek to build on the firm’s expertise and strategy of identifying growing businesses that combine financial services complexity with transformational technology in areas including payments, software, consumer financial product distribution and others.
“The successful close of Corsair V is a recognition of our differentiated strategy and a testament to our team’s ability to partner with best-in-class companies and management teams,” said Ignacio Jayanti, Managing Partner of Corsair. “Through our performance and partnership-driven philosophy, we help our portfolio companies flourish by leveraging our team’s sectoral perspective, deep network of relevant industry relationships and impactful resourcing for value-add initiatives.”
Mr. Jayanti concluded: “We are pleased to have received such strong support from our limited partners, and we would like to thank our investors for their commitment to the firm throughout the years and for the continued confidence they have placed in our team. Our value creation practices continue to evolve from a strong foundation, and the successful close of Fund V reflects the fact that our strategy is working.”
To date, Corsair V has made investments in six portfolio companies: IDnow (a leading provider of Identity Verification-as-a-Service solutions); Axo AS (an independent distributor of financial services products in the Nordic region); ZEDRA Group (an independent global specialist in the trust and corporate services market); RGI (a European leader in the digital transformation of insurers); Jackson Hewitt Tax Service (the second-largest assisted tax-preparation service in the United States) and Spring Venture Group (a leading digital insurance platform in the senior healthcare market).
About Corsair Capital
For the past 28 years, Corsair Capital has invested in many of the sub-sectors that comprise the financial services ecosystem in Europe and North America, and has developed a leading practice aligning with strong management teams and co-shareholders to grow specialist businesses. In particular, Corsair has focused on businesses that operate at the cross roads of technology transformation and financial services complexity and that require a deep understanding of, and a global network within, the broad financial industry. More information about Corsair Capital may be accessed through the website www.corsair-capital.com
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