Cinven raises €1.5bn for first dedicated financial services fund

Jul 12, 2022 | News

International private equity firm, Cinven, announces the final close of its inaugural Strategic Financials Fund at €1.5bn of total capital committed.

The SFF builds on Cinven’s leading financial services investment platform in Europe with an investment strategy focused on areas where Cinven has developed significant investment expertise, such as life and non-life insurance and reinsurance, asset-backed speciality finance, wealth management, insurance distributors and other ‘capital light’ financial service providers.

The SFF is focused on investing in companies with long term track records of consistent growth and cash generation across a broad spectrum of the European financial services sector, drawing on Cinven’s extensive network of relationships, origination skills and expertise.

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The SFF has made three investments to date:

  • March 2021: Miller, a leading specialist insurance and (re)insurance broker, acquired in partnership with GIC, Singapore’s sovereign wealth fund.
  • April 2021: Compre, a specialist global consolidator of closed books of non-life insurance policies, acquired in partnership with British Columbia Investment Management Corporation, one of Canada’s largest institutional investors.
  • February 2022: International Financial Group Limited (‘IFGL’), a leading life insurance provider of cross-border, long-term savings products for internationally mobile clients (completion pending).

Cinven has one of the leading financial services investing franchises in Europe, having built its expertise over more than a decade of investing. In addition to the SFF investments, Cinven Funds’ other financial services investments include Viridium, a German specialist consolidator of closed life insurance books; True Potential, one of the fastest growing and most innovative financial services groups in the UK; NewDay, a leading UK consumer finance company; and Premium Credit, a leading UK provider of premium finance for commercial and retail insurance products. Previous financial services investments by the Cinven Funds include Guardian Financial Services, Partnership Assurance and Avolon.

Source: Press Release

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