BlackFin Capital Partners closes third fund after raising nearly €1bn in largest European fund dedicated to asset-light financial services

BlackFin Capital Partners, the European specialist financial services investor, announced the successful final close of its third fund, BlackFin Financial Services Fund III at its hard cap of €985 million.

Fund III was significantly oversubscribed, exceeding its initial target of €750 million and approximately 150% larger than the firm’s second fund (€410) raised in 2015, and will invest through buyouts in growing financial services segments including, payments, financial advisors and digital insurance

This fundraise attracted quality institutional capital from across Europe and North America, including a range of new global investors, with 40% of commitments coming from France, 30% from the rest of Europe and 30% from the United States.

The latest fundraising marks the end of a particularly active year in 2019 for BlackFin, including three investments from BlackFin Financial Services Fund II:  the acquisition of 100% of Bonnfinanz, a major distribution network of financial solutions to a retail customer base in Germany, the acquisition of 73% of Consultim, the first managed real estate investment product distribution platform for wealth management advisors and banks, and most recently the acquisition of 100% of a management company specialising in the REIT market for private and institutional investors (This transaction is subject to approval by the Autorité des Marchés Financiers). 

BlackFin Capital Partners is led by seven partners: the four founding partners, who have worked together as managers and entrepreneurs in the financial industry for several decades, joined by three new equity partners. Over the life of Fund II, the team has doubled to 30 professionals across the Paris, Brussels and Frankfurt offices.

We’re delighted to have acted as advisor for this fundraise.