Corsair Capital Announces Close of Multi-Asset Continuation Vehicle
Funding | May 08, 2025 | Corsair Capital
Corsair Capital has successfully closed its first multi-asset continuation vehicle and secondary fund with commitments totaling approximately $600 million. The Fund, Corsair Riva, L.P., aims to acquire high-performing European companies in the software, services, and payments sectors. The assets include ZEDRA, Redpin, and IDnow, with a secondary fund securing a majority stake in IDnow. The initiative prioritizes returns for limited partners, providing options for liquidity and continued investment exposure. This transaction gives the portfolio companies additional capital for value-creation initiatives, including M&A activity. Legal and financial advisory roles were filled by Simpson Thacher & Bartlett LLP and Lazard, respectively.
Sectors
- Private Equity
- Financial Services
- Software and Technology
Geography
- Europe – The continuation vehicle focuses on acquiring high-performing European companies in various business sectors.
- United States – Corsair Capital and its partners like Simpson Thacher & Bartlett LLP, and Lazard are headquartered in the US.
Industry
- Private Equity – The article discusses Corsair Capital's activities in raising and deploying a continuation and secondary fund, which is a common practice in the private equity industry.
- Financial Services – Corsair Capital focuses on investing in financial services firms, as evidenced by their investments in payments and identity verification platforms like IDnow.
- Software and Technology – The target companies in Corsair's fund include firms in software and technology, showcasing its investment strategy in this sector.
Financials
- $600 million – The total amount raised by Corsair Capital for their multi-asset continuation vehicle and secondary fund.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Corsair Capital | PE Firm | Company | A specialist investment firm focused on payments, software, and business services in the financial services market. |
| Coller Capital | Investor | Company | A lead investor in the fund raised by Corsair Capital. |
| IDnow | Target Company | Company | A leading identity verification platform provider in continental Europe. |
| Redpin | Portfolio Company | Company | A specialist provider of payments and embedded software for property transactions. |
| ZEDRA | Portfolio Company | Company | An international player in trust, corporate, and fund administration services. |
| Simpson Thacher & Bartlett LLP | Legal Advisor | Company | Provided legal advisory services for Corsair Capital. |
| Lazard | Financial Advisor | Company | Served as the financial advisor in the transaction. |