Aquiline closes Fund III on more than $1.1 bln

Aquiline Capital Partners closed its third fund on more than $1.1 billion, beating its $1 billion target.

The firm, led by Jeff Greenberg, has been raising Fund III since at least Oct. 2014, when it filed fundraising documents with the SEC, Buyouts reported. Stanwich Advisors worked as lead placement agent on the fundraising.

Aquiline invests in middle market companies in the financial services sector, including banking and credit, insurance, investment management and financial technology and services.

The firm has made five investments from the fund to date, including Engs Commercial Finance, a U.S.-based truck lending and leasing company; Fenergo, a capital markets compliance business; payment software and processing company OmegaFi; Ascensus, a retirement and college savings provider and Wellington Insurance Group, an outsourced underwriter for residential property insurance.

Greenberg, the former chairman and CEO of Marsh & McLennan Cos., founded Aquiline in 2005. Greenberg also worked at AIG where his father, Maurice “Hank” Greenberg, was Chairman and CEO.

Photo courtesy of REUTERS/Romeo Ranoco