Corsair Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Corsair Capital has acquired 3 companies. It has also invested in 1 other.

Corsair Capital’s most common sectors for investment arefinancial services (38%) and insurance (25%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (38%) and secondary buyout (28%). In total, Corsair Capital has invested in 11 US states and 11 different countries. Its largest (disclosed) acquisition occurred in 2015 when it acquired First Eagle Investment Management for $4.0B.

In the last 3 years, Corsair Capital has exited 2 companies. The Firm’s most common exit type is trade sale (47%). Corsair Capital’s largest (disclosed) exit occurred in 2008 when it sold National City for $5.6B.

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M&A Summary

  • M&A Total Activity41
    • M&A Buy Activity29
    • M&A Sell Activity12
  • Total Sectors Invested 7
  • Total Countries Invested 11
  • M&A Buy/Sell Connections 26
  • M&A Advisors 13

Corsair Capital

Corsair Capital

717 Fifth Avenue, 24th floor,
New York, New York 10022
United States
(212) 224-9400
www.corsair-capital.com
corsair@corsair-capital.com

Corsair Capital is a private investment firm focused on investments in the financial services industry. Specific areas of interest include banks, insurance companies, credit card specialists, asset managers, private banks, mortgage lenders, financial technology firms, and finance companies. The Firm looks to invest between $50 to $100 million in companies with proven business models and 'meaningful' barriers to entry. Corsair will consider opportunities around the world, including the US, Europe, Latin America, and Asia. Prospective transactions include recapitalizations, growth capital financings, management buyouts, and special/distressed situations. Corsair Capital was originally established in 1992 and is based in New York City. Corsair has an additional office in London.


Investment Criteria

Sectors of Interest: Financial Services, Information Technology, Insurance, Internet Software and Services

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Special Situations/Distressed, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Western Europe, Eastern Europe, Asia/Pacific, Latin/South America

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 50 100
Enterprise Value 150 750
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.2/yr) # 23 2 1 3 - - 29
vol $5.2B $350M $5.6B
Sell (0.6/yr) # 10 1 - 2 - - 13
vol $9.0B $1.0B $179M $10.2B
  42

Most Recent M&A

Company Date Value Type
Notemachine Ltd. 2022-10-03 179M USD Trade Sale
Powys, United Kingdom · www.notemachine.com
Miracle Mile Advisors 2022-09-16 - Growth Capital
Los Angeles, California · www.miraclemileadvisors.com
HungerRush LLC 2022-06-01 - Secondary Buyout
Houston, Texas · www.hungerrush.com
RGI S.P.A. 2022-03-10 - Secondary Sale
Milan, Italy · www.rgigroup.com
Aurora Payments 2022-01-04 - Buyout (LBO, MBO, MBI)
Tempe, Arizona · www.risewithaurora.com
Xceptor Ltd. 2021-03-15 - Secondary Buyout
London, United Kingdom · www.xceptor.com
Identity Intelligence Group LLC 2020-12-16 - Buyout (LBO, MBO, MBI)
Temecula, California · www.idiq.com
TreviPay, Inc. 2020-07-30 350M USD Divestiture
Overland Park, Kansas · www.trevipay.com
Personal Capital Corp. 2020-06-29 1.0B USD Trade Sale
Redwood City, California · www.personalcapital.com
IDnow 2019-10-28 - Growth Capital
Munich, Germany · www.idnow.io
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
ZEDRA Group 2018-11-28 Zedra Fund Services 2022-03-16 10
Geneva, Switzerland · www.zedra.com Luxembourg, Luxembourg
ZEDRA Group 2018-11-28 BNP Paribas Singapore Trust Corp. Ltd. 2020-01-08 9
Geneva, Switzerland · www.zedra.com , Singapore

M&A by Sector

Sector Current # Value All-time # Value
Financial Services 6 (38%) 4.4B (93%) 11 (38%) 4.4B (79%)
Insurance 2 (13%) - 7 (24%) 811M (15%)
Information Technology 4 (25%) 350M (7%) 4 (14%) 350M (6%)
Business Services 1 (6%) - 2 (7%) -
Internet Software and Services 1 (6%) - 2 (7%) -
Software 1 (6%) - 2 (7%) -
Aerospace 1 (6%) - 1 (3%) -
Total 16 $4.7B 29 $5.6B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 9 (56%) 4.4B (94%) 13 (45%) 4.7B (85%)
  California 2 (13%) - 3 (10%) -
  New York 1 (6%) 4.0B (84%) 1 (3%) 4.0B (72%)
  Kansas 1 (6%) 350M (7%) 1 (3%) 350M (6%)
  Tennessee 1 (6%) 88M (2%) 1 (3%) 88M (2%)
  Texas 1 (6%) - 1 (3%) -
  New Jersey 1 (6%) - 1 (3%) -
  Missouri 1 (6%) - 1 (3%) -
  Arizona 1 (6%) - 1 (3%) -
  Connecticut - - 1 (3%) 279M (5%)
  Massachusetts - - 1 (3%) -
  Georgia - - 1 (3%) -
United Kingdom 2 (13%) 308M (6%) 3 (10%) 308M (6%)
Bermuda - - 3 (10%) 532M (10%)
South Korea 1 (6%) - 2 (7%) -
Poland - - 2 (7%) -
Canada 1 (6%) - 1 (3%) -
  British Columbia 1 (6%) - 1 (3%) -
Germany 1 (6%) - 1 (3%) -
Norway 1 (6%) - 1 (3%) -
Switzerland 1 (6%) - 1 (3%) -
Italy - - 1 (3%) -
Sweden - - 1 (3%) -
Domestic 9 (56%) 4.4B (94%) 13 (45%) 4.7B (85%)
Cross-border 7 (44%) 308M (6%) 16 (55%) 840M (15%)
Total 16 $4.7B 29 $5.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 7 (44%) 396M (8%) 11 (38%) 1.2B (22%)
Secondary Buyout 5 (31%) 4.0B (84%) 8 (28%) 4.0B (72%)
Growth Capital 2 (13%) - 3 (10%) -
Stake Purchase - - 3 (10%) -
Venture 1 (6%) - 2 (7%) -
Divestiture 1 (6%) 350M (7%) 1 (3%) 350M (6%)
PIPE - - 1 (3%) -
Total 16 $4.7B 29 $5.6B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 4 (31%) 9.2B (90%)
Trade Sale 3 (23%) 1.0B (10%)
IPO 2 (15%) -
Unknown 2 (15%) -
Secondary Sale 1 (8%) -
SPAC 1 (8%) -
Total 13 $10.2B

Top M&A Advisors

Financial Deals
Keefe, Bruyette, & Woods, Inc.
 2
Raymond James - Investment Banking
 1
Arctic Securities
 1
Legal Deals
Simpson Thacher & Bartlett
 6
Chapman & Cutler
 3
Slaughter and May
 1

Deal Values

buy # Total
> $1B 1 $4.0B
$100M to $1B 4 $1.5B
< $100M 1 $88M
TOTAL $5.6B
Largest First Eagle Investment Management LLC
$4.0B (2015-07-20)
sell # Total
> $1B 3 $9.3B
$100M to $1B 2 $871M
TOTAL $10.2B
Largest National City Corp.
$5.6B (2008-12-31)

M&A Connections

Deals
Acquired from
Investor(s)
28%
8 (28%)
Strategic(s)
3%
1 (3%)
Exited to
Investor(s)
8%
1 (8%)
Strategic(s)
46%
6 (46%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

9.9B USD

Established

1992

Specialist/Generalist

Specialist

Leadership

Nicholas Paumgarten

Founder

D.T. Ignacio Jayanti

CEO

Hari Rajan

Managing Partner, Investcorp Corsair

Karen McMonagle

CFO

Edward Wertheim

Managing Director

FAQ

When was Corsair Capital founded?

Corsair Capital was founded in 1992.

What type of investor is Corsair Capital?

Corsair Capital is a private equity firm.

Where is Corsair Capital headquartered?

Corsair Capital is headquartered in New York, New York.

How much capital does Corsair Capital have under management?

Corsair Capital has 9.9B USD under management.

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