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Blackfin Capital Partners secures EUR160m for second financial services fund

BlackFin Capital Partners is off to a strong start in raising its second Financial Services fund, securing EUR160 million, mostly from existing investors and on track to raise a total of EUR350 million.

On January 9th, BlackFin Capital Partners secured aggregate commitments in excess of EUR160 million for its BlackFin Financial Services Fund II, from European institutional investors and family-offices. This 1st Closing, comprised mostly of commitments from investors in BlackFin’s first fund, paves the way for a broader institutional fund-raise, with the target of reaching EUR350 million before year-end.

Laurent Bouyoux, Managing Partner of BlackFin Capital Partners, says: “We are proud to achieve such a promising launch for our second fund. This strong support from our investors stems from the performance we are delivering in Fund I, but also because the unique, sector-focused, investment strategy we laid out five years ago has proven itself and continues to offer exciting opportunities for the decade to come. Financial services remain a complex but highly attractive and diversified investment universe from which a specialised team can extract compelling investment opportunities.”

The firm’s strategy focuses on asset-light (as opposed to balance-sheet intensive) businesses in the financial services sector, across continental Europe. Businesses of interest to BlackFin include asset-management, institutional and retail brokerage, distribution of insurance and banking products, both digital and through traditional channels, payments, processing, debt management and collection, fund administration, business process outsourcing and financial technology.

BlackFin operates as an active and influential investor. In Fund I (closed in 2011), the BlackFin team has substantially transformed its portfolio companies by growing them organically, improving operating margins and also through an active buy and build strategy. Transactions have been completed in France, Germany, Italy and Switzerland.

BlackFin will pursue this same strategy in Fund II, keeping its focus on the lower mid-market segment of the financial services sector, and supporting successful management teams to take their businesses to the next level.

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