Aquiline Capital Partners, the New York buyout firm which recently hired former Wachovia CEO Ken Thompson, said it now owns a 5.12% stake in BinckBank NV. The shares were acquired at no cost because of a transfer from parent firm JPMorgan Chase as part of a derivative agreement.
Aquiline Capital Partners LLC (“Aquiline”), a New York based private equity firm investing in financial services, today announced that JPMorgan Chase Bank, NA transferred 3,949,232 BinckBank NV shares to a wholly-owned subsidiary of the Aquiline Financial Services Fund L.P. and its affiliates as part of a derivative agreement. Neither JPMorgan nor Aquiline has bought or sold BinckBank NV shares to effect this transfer. Following the transfer, Aquiline has economic and legal ownership of the shares which represent 5.12% of BinckBank NV’s outstanding share capital.
About Aquiline Capital Partners LLC
Aquiline is a private equity firm based in New York investing exclusively in the global financial services sector in industries such as property and casualty insurance and reinsurance, banking, specialty finance, securities, asset management, operations and financial technology, and life and health insurance and reinsurance. Aquiline seeks to add value to its portfolio companies through strategic, operational, and financial guidance.