Following-up on its 1st Closing held in January (at €160 million), BlackFin Capital Partners is on track to reach its “hard-cap” amount of €400 million before the end of 2015. Current commitments stand at an aggregate amount in excess of €300 million, both from investors in BlackFin’s first fund, such as Bpifrance (French Investment Public Bank) and Unigestion, but also from new institutional relationships such as the European Investment Fund.
Laurent Bouyoux, Managing Partner of BlackFin Capital Partners: “We are proud to have achieved such a high level of interest 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 specialized 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.