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JC Flowers Closes Fifth Private Equity Fund with Over $1.1B in Commitments

August 05, 2022, 07:20 AM
Filed Under: Private Equity News

J.C. Flowers & Co. completed fundraising for its fifth private equity fund, J.C. Flowers V L.P. (together with parallel vehicles, "JCF V"), with more than $1.1 billion in commitments.

Limited partners in JCF V represent a diverse group of corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices. JCF V received strong support from existing longtime investors as well as highly respected new investors, with institutional investors  located across Asia, Europe, Middle East, and North and South America.

"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," said Chris Flowers, CEO of J.C. Flowers. "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."

J.C. Flowers targets investments across all sub-sectors of the financial services industry, including banks, insurance and reinsurance, specialty and consumer finance, asset management and financial technology and securities firms. The firm 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 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.

Simpson Thacher & Bartlett LLP served as legal adviser for the Fund.

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