BlackFin financial services fund holds €160m first close

The vehicle mainly saw capital commitments from existing investors in the GP's 2011-vintage Financial Services Fund I.

BlackFin's previous vehicle raised €220m – shy of its €300m target – and focuses on investments in spun-off companies mainly in the financial services sector. It makes investments in France, Germany, Italy and Switzerland.

Investors
The GP's previous fund saw commitments from more than 10 French investors – including family offices and institutional investors – as well as LPs from the rest of Europe.

Investments
The new fund will follow the same strategy as its predecessor, investing in asset-light companies in the continental European financial services sector.

The new vehicle will make more than 12 investments of €5-30m in small to medium-sized companies with an enterprise value of up to €100m.

BlackFin said possible targets include firms providing asset management, institutional and retail brokerage, insurance and banking products distribution, debt management and collection, fund administration, business process outsourcing and financial technology.

People
Laurent Bouyoux is the managing partner at BlackFin Capital Partners.

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