– BlackFin Capital Partners announces successful closing of BlackFin Financial Services Fund IV at €1.8 billion.
– The fund surpassed its initial target of €1.5 billion, driven by strong interest from institutional investors.
– Investor distribution: 45% from Europe, 45% from the Americas, and 10% from Asia.
– Fund IV provides 80% more capital compared to the €985 million Fund III.
– Fundraising supported by 100% re-up rate from existing investors and 25 new partnerships.
– BlackFin’s investor base includes public pension funds, sovereign wealth funds, insurance and asset managers, endowments, and family offices.
– With Fund IV, BlackFin’s total assets under management reach €4 billion, including buyout and fintech strategies.
– Since 2009, BlackFin has executed over 110 transactions, becoming the most active investor in Europe’s financial services sector.
– Fund IV will continue BlackFin’s focus on asset-light financial services subsegments like insurance brokerage, wealth management, payments, and financial software providers.
– BlackFin’s investment strategy emphasizes primary transactions, focusing on operational improvements through off-market deals.
– Initial investments from Fund IV include OpGroen, a carve-out of Aon Netherlands’ personal lines insurance, and IBS Capital Allies, an independent wealth manager with €5 billion in assets under management.
– Since Fund III, BlackFin has expanded its platform with new offices in London and Amsterdam.
– The team has grown to 50 professionals, including nine partners across five locations.
– In 2022, BlackFin closed its second FinTech VC
fund, BlackFin Tech II, at €390 million, the largest B2B FinTech fund in Europe.
– Laurent Bouyoux, President & Founding Partner, emphasized BlackFin’s vision to transform Europe’s financial sector into a more competitive landscape since its founding in 2009.
