J.C. Flowers racks up over $1.1bn for fifth fund

• Simpson Thacher & Bartlett LLP served as legal adviser for the fund
• So far, approximately 40 percent of JCF V has been invested, which include Ariel Re, Inigo Insurance and iLendingDirect
• J.C. Flowers invests in the financial services industry

J.C. Flowers & Co. LLC has closed its fifth private equity fund at more than $1.1 billion.

J.C. Flowers V’s limited partners include corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices.

“We are grateful for the support from both our existing and new limited partners which allowed us to surpass our target, especially given the backdrop of uncertainty over the last two years,” said Chris Flowers, CEO of J.C. Flowers, in a statement. “Our firm has built a deep bench of talented executives with significant financial services expertise, which has made us uniquely qualified to identify interesting investments through changing market conditions.”

To date, approximately 40 percent of JCF V has been invested, including announced platform investments in Ariel Re, Inigo Insurance, iLendingDirect, Insigneo Financial Group, LMAX Group, Tricor Insurance and Solomon Wealth.

Simpson Thacher & Bartlett LLP served as legal adviser for the fund.

J.C. Flowers invests in the financial services industry. Founded in 1998, the firm has approximately $5 billion of assets under management. J.C. Flowers has offices in New York and London and has invested more than $17 billion of capital in 62 portfolio companies in 18 countries.