Firm: Corsair Capital
Fund: Corsair IV Financial Services Capital Partners LP
Target: $2 billion
Placement Agent: Atlantic-Pacific Capital
The New York-based firm hopes to hold a first close this fall on north of $600 million to $700 million, eventually hitting a target for the fund of $2 billion.
“The PPMs have just gone out, the firm has done a bunch of meetings both with existing and new backers, and the fund is being very well received,” a source with knowledge of the situation told Buyouts. Potential supporters are expressing interest and discussing the timing of pledges, although no one has signed on yet to
New York-based Corsair Capital’s
J.P. Morgan & Co. formed Corsair Capital in 1993 to take advantage of opportunities created by the savings and loan crisis. The firm managed two third-party funds from within J.P Morgan and then spun out from the investment bank in 2005.
Atlantic-Pacific Capital, a Greenwich, Conn.-based placement agency, is helping to raise the new fund.