Corsair closes fifth fund at $1bn

Corsair Capital announced today the final close of its fifth fund with $1 billion of limited partner commitments and an additional $264 million of co-investment capital to date. Corsair V met its $1 billion fundraising target thanks to strong interest from new and existing investors. The firm’s previous fund, Corsair IV, had $863 million in committed capital. The investment focus is on business and financial services with an eye toward identifying growing businesses that combine financial services complexity with transformational technology in areas including payments, software, consumer financial product distribution and others. To date, the new fund has made investments in six portfolio companies: IDnow (a leading provider of Identity Verification-as-a-Service solutions); Axo AS (an independent distributor of financial services products in the Nordic region); ZEDRA Group (an independent global specialist in the trust and corporate services market); RGI (a European leader in the digital transformation of insurers); Jackson Hewitt Tax Service (the second-largest assisted tax-preparation service in the United States) and Spring Venture Group (a leading digital insurance platform in the senior healthcare market). “The successful close of Corsair V is a recognition of our differentiated strategy and a testament to our team’s ability to partner with best-in-class companies and management teams,” said Ignacio Jayanti, managing partner of Corsair. “Through our performance and partnership-driven philosophy, we help our portfolio companies flourish by leveraging our team’s sectoral perspective, deep network of relevant industry relationships and impactful resourcing for value-add initiatives.” Jayanti has been at Corsair since the launch of its first fund in 1993. Based in New York, he is also a director of one of Corsair’s portfolio companies – First Eagle Investment Management. Originally housed within J.P. Morgan Chase & Co, Corsair spun out as an independent business in 2006 under his leadership. Since the spin-out, the Corsair team has led or co-led $8.2 billion in equity investments.

Corsair closes fifth fund at $1bn

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