Financial services and technology private equity firm
Aquiline Capital Partners
- HeadquartersNew York, NY S7
- Founded2005 S1
- Websiteaquiline.com
- Last verifiedOctober 22, 2026
At a glance
| Assets under management | $11B (as of Mar 2026) S7 |
|---|---|
| Latest fund | Aquiline Financial Services Fund V, $2.3B (Jun 2024) S6 |
| Check size | $50M to $350M S2 |
| Deal types | Platform, Add-on, Minority S2 |
| Geography | North America, Europe S4 |
| Sectors | Insurance Brokerage, Software & SaaS, Healthcare Services, Wealth Management, Accounting & Professional Services |
What Aquiline Capital Partners buys
Aquiline is a New York investment firm, founded in 2005, that backs financial services and technology businesses. Its private equity strategy invests in companies worth $75 million to $2.5 billion, puts in $50 million to $350 million of equity per deal, and buys add-ons of any size for its platforms. It will take a majority or a minority stake and handles corporate carve-outs, such as SEI's family office services unit, now Archway. Its practices include insurance distribution and services, wealth and retirement, payroll and benefits, healthcare tech and services, legal tech and services, and vertical software. The fifth private equity fund closed in 2024 with more than $2.3 billion. Aquiline also runs venture and credit strategies, which this profile leaves out.
With a $75 million floor on company value, most smaller owners would meet Aquiline through a platform it already owns. Cordance and Fullsteam were formed to buy founder-owned vertical software companies, and AvonRisk was launched in 2025 to bring together boutique claims administrators.
Recent deals
Announced in the 24 months before October 22, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Sep 2026 | FlourishAgreed to take a controlling stake in MassMutual's wealthtech platform for independent advisors; MassMutual keeps a significant stake and closing is expected in late 2026 | Platform | Software & SaaS | Source |
| Jun 2026 | QuickenEdward Jones invested in the personal finance software company, which Aquiline continues to own | Investment | Software & SaaS | Source |
| Apr 2026 | EnrollHereInvestment in a North Carolina software platform for Medicare Advantage insurance distribution | Investment | Software & SaaS | Source |
| Feb 2026 | Relation InsuranceAgreed to sell the Chicago insurance broker to BayPine after more than 100 acquisitions since Aquiline's 2019 investment | Exit | Insurance Brokerage | Source |
| May 2025 | AvonRiskNew national platform for boutique workers' compensation, liability and managed care administrators, launched with Intercare, InterMed and George Hills | Platform | Source | |
| Mar 2025 | CoAdvantage and PrimePayMerged two portfolio companies, a professional employer organization and a payroll and HR software provider | Investment | Accounting & Professional Services | Source |
| Feb 2025 | SEI Family Office Services (now Archway)Agreed to carve out SEI's family office accounting, reporting and outsourced services business | Platform | Software & SaaS | Source |
Portfolio by sector
From the firm's portfolio page S4.
Embedded FinTech
- Crunchafi
- OnPhase
Embedded FinTech, High Velocity Software
- Fullsteam
- ClearCourse
Employee Benefits & Payroll
- CoAdvantage
- PrimePay
Employee Benefits & Payroll, European Financial Services
- Isio
European Financial Services
- Wealth at Work
European Software
- VirtusLab
European Software, High Velocity Software
- Everfield
Fund Administration
- HedgeServ
Healthcare Tech & Services
- Avel eCare
- Health Prime
- Nimble Solutions
- PharmaForce
- Planet DDS
Healthcare Tech & Services, Insurance Tech & Services
- MDpanel
High Velocity Software
- Cordance
Insurance Distribution & Risk
- Distinguished Programs
- Relation Insurance Sale to BayPine announced
- Ripe
- Clearwater Underwriting
- Core Specialty Insurance Holdings
- Armour
Insurance Tech & Services
- AccuServe
- AvonRisk
- EnrollHere
Investment Tech & Services
- Archway
Investment Tech & Services, Structured Growth
- Smart
Legal Tech & Services
- ABC Legal
- Consilio
- SurePoint
US Wealth & Retirement
- SageView
- Quicken
Other
- FirstSun Capital Bancorp
Greymont’s take
How Aquiline Capital Partners fits a seller
Aquiline suits owners of insurance agencies and program managers, claims and benefits administrators, payroll and HR service firms, retirement plan advisors, and software companies that serve financial, legal or healthcare customers. Its size floor means a direct sale fits only larger companies; smaller firms usually join an existing platform. AvonRisk is a clear example: Aquiline launched it in May 2025 with three California firms and says members keep their boutique service model while gaining shared technology and capital.
Aquiline is open to sharing ownership, as in the Flourish deal, where MassMutual keeps a significant stake. Holds can be long and busy: Relation made more than 100 acquisitions between Aquiline's 2019 investment and the 2026 sale agreement. An owner should ask whether Aquiline would buy a majority or a minority stake, which platform the business would join, and how much of the purchase price would be paid at closing.
Questions owners ask
What size company does Aquiline's private equity strategy target?
Companies with an enterprise value of $75 million to $2.5 billion, with $50 million to $350 million of equity per deal. Add-on acquisitions for its existing platforms can be any size, so smaller firms can still sell to an Aquiline company.
Does Aquiline buy insurance agencies and brokers?
Insurance distribution is one of its practices. It backed Relation Insurance from 2019, during which Relation completed more than 100 acquisitions, and agreed to sell it to BayPine in February 2026. Current holdings in the practice include Distinguished Programs, Ripe and Clearwater Underwriting.
Will Aquiline take a minority stake?
Yes. Its private equity page says it can invest anywhere from a minority position to a full buyout. In the 2026 Flourish deal it agreed to take a controlling interest while MassMutual keeps a significant stake.
Sources
- S1Aquiline home page Accessed October 22, 2026
- S2Aquiline: Private equity Accessed October 22, 2026
- S3Aquiline: About us (practices) Accessed October 22, 2026
- S4Aquiline: Portfolio (strategy, practice, geography and status filters) Accessed October 22, 2026
- S5Aquiline: News Accessed October 22, 2026
- S6Aquiline Raises Over $3.4 Billion of Fund Capital (June 6, 2024) Accessed October 22, 2026
- S7Aquiline to Invest in Flourish (September 2, 2026) Accessed October 22, 2026
- S8Aquiline Launches AvonRisk (May 12, 2025) Accessed October 22, 2026
- S9Aquiline Announces Sale of Relation Insurance Services to BayPine (February 18, 2026) Accessed October 22, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Aquiline Capital Partners. Figures are as reported on the dates shown and may have changed. Request a correction