JC Flowers & Co. LLC, a leading private investment firm dedicated to investing globally in the financial services industry, has completed fundraising for its fifth private equity fund – JC Flowers V LP with more than $1.1 billion in commitments.
Simpson Thacher & Bartlett LLP served as legal adviser for the fund.
Limited partners in JCF V represent a diverse group of corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments and family offices.
A press release states that JCF V received strong support from existing long-time investors, as well as highly respected new investors, with institutional investors located across Europe, Middle East, Asia and South America.
JC Flowers targets investments across all sub-sectors of the financial services industry, which includes banks, insurance and reinsurance, specialty and consumer finance, asset management and financial technology and securities firms.
Additionally, the firm also has deep experience navigating the complexities of the global regulatory landscape, and has been approved for various investments in financial services companies in 18 jurisdictions.
Teams based in New York and London drive value in the firm’s portfolio companies through operational transformation and balance sheet optimization.
To date, approximately 40% of JCF V has been invested, including announced platform investments in Ariel Re, Inigo Insurance, iLendingDirect, Insigneo Financial Group, LMAX Group, Tricor Insurance and Solomon Wealth.
Chris Flowers, CEO of J.C. Flowers, commented: “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.
“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.”
