Insurance Services

The Avendus Future Leaders Fund III is seeking to raise about $300 million for its private equity unit, with plans to write larger checks more frequently. The firm's third private equity fund aims to target growth-stage startups, as evidenced by its previous work with companies like Zepto, Lenskart, Xpressbees, CaratLane, and Atomberg. This represents a shift from its earlier fund sizes, with its second fund totaling around $185 million and its maiden fund at $50 million in size. Target sectors include information technology, insurance, food product, apparel, accessory, asset management and fintech sectors. The fund is designed to create value for its investors by investing opportunistically in ‘best of breed’ late stage private companies. The fund pursues a unique and differentiated strategy by focusing primarily on opportunistic situations for investment. The Fund is indifferent between primary and secondary investments and offers a quick turnaround to companies/ entrepreneurs. Investment Size: USD 10-30 million per transaction, minority stake.

Preservation Capital Partners has successfully closed PCP Fund II, a private equity buyout fund. The firm secured €459 million in capital commitments, marking a 30% increase from its predecessor fund, PCP Fund I. Preservation Capital Partners (PCP) invests in financial technology and services companies across Europe. It has a flexible investment mandate and can invest as both a minority and majority investor, with a typical equity investment of £50-150m with the ability to invest significantly larger amounts through co-investment. Business subsectors include non-balance sheet businesses including insurance distribution, insurance services, asset and wealth management, outsourcing service providers to financial institutions, payments and consumer finance. Preservation Capital Partners has achieved significant milestones, including the closing of PCP's inaugural continuation vehicle and raising substantial co-investments from existing limited partners (LPs). With the closing of PCP Fund II, Preservation Capital Partners now manages approximately €1 billion in assets under management (AuM) across its three active funds, solidifying its position as a leading player in the Financial Services sector. The fund is dedicated to consistently delivering top quartile returns, regardless of market conditions, and is confident in its ability to navigate future opportunities, create value, and drive sustainable growth. Kirkland & Ellis advised Preservation Capital Partners on raising the fund.

Performance Direct Investments V (PDI V) is the fifth direct co-investment vehicle managed by Performance Equity Management (PEM), a private equity firm based in Greenwich, Connecticut. The fund closed at $383 million, exceeding its $300 million target. PDI V continues PEM’s strategy of partnering with leading private market managers to build a diversified portfolio of direct co-investments. The fund targets small and middle-market buyouts and growth equity investments. PEM applies a disciplined investment process to identify opportunities across sectors such as information technology, financial services, consumer and business services, and industrials. The fund primarily invests in companies located in North America and Europe. With $8.9 billion in assets under management, PEM has a strong track record of managing co-investment programs. Its senior investment team has committed more than $30 billion across 175+ private equity sponsors globally. In 2023, PEM became part of Sagard’s platform following a strategic investment, strengthening its global reach and future growth capabilities.

Pollen Street Capital V is the fifth flagship private equity vehicle launched by Pollen Street Capital, a London-based alternative asset manager focused on investing in financial and business services. The fund was launched in 2023 and held its first close at €1 billion. It eventually surpassed this target, with a total of €2 billion in capital. That includes €1.5 billion in fund commitments and another €500 million in co-investment capacity —. PSC V aims to acquire control positions in lower middle-market companies that are fast-growing and technology-enabled. The fund prioritizes firms within the lending, payments, wealth management, insurance, and broader tech-enabled business services sectors. Its investment approach is centered on driving growth and creating market leaders through hands-on value creation strategies. The fund plans to make equity investments ranging from £40 million to £100 million in 12 to 14 companies during its investment period. It targets businesses with enterprise values of up to £200 million and is designed to generate a gross return of 3.0x invested capital at the fund level.

Trident X is the flagship tenth buyout vehicle from Stone Point Capital, based in Greenwich, CT. Managing $11.5 billion in commitments—surpassing its original $9 billion target—it marks the largest raise in Stone Point’s flagship Trident series. The fund maintains Stone Point’s disciplined thematic focus on the financial services sector, encompassing banks, insurance, wealth management, specialty finance, fintech and related areas. It seeks control‑oriented investments in mid‑market to upper mid‑market firms across the U.S., leveraging the firm’s deep industry expertise and proprietary sourcing channels. Trident X benefits from strong institutional support—state and public pension systems (e.g., WSIB, Arizona PSPRS, TRS Illinois) and major life insurers among its LPs—which underscores the confidence in the strategy and performance track record of prior vintages.