Private Equity Firm Financial Services

Further Global

New York, New York, United States

Employee-owned private equity firm founded in 2017, investing in businesses in the financial services industry. Further Global partners with investors and management teams, using its network, operational expertise, and capital to support business growth. Based in New York.

Focus Areas
Private equity investing, Financial services, Specialty insurance

Tracked deals

9

9 tracked deals across 2019-2023.

Recent pace

0

0 tracked deals announced in the last 12 months.

Deal mix

Buyout

5 buyout · 2 addon · 2 growth capital

Further Global Acquisition Volume by Year

Last 5 years

Acquisition volume by year Annual acquisition counts for the last 5 years for Further Global. 1 2019 1 2020 3 2021 3 2022 1 2023

Supporting Data

Recent Transactions

  • Buyer
    TowerBrook Capital Partners L.P., Further Global Capital Management
    Target
    Coaction Global, Inc.
    Industry
    Insurance

    Coaction Global, a Morristown, New Jersey-based specialty property & casualty insurer, completed an approximately $200 million growth capital raise led by existing investors TowerBrook Capital Partners and Further Global Capital Management to support its transformation into a full-service specialty insurance company. The capital will be used to expand underwriting divisions, broaden distribution relationships, and enhance data and analytics capabilities as Coaction pursues continued premium growth across its commercial insurance verticals.

  • Buyer
    Further Global (funds managed by Further Global), Neuberger Berman, Pictet, OPTrust
    Target
    Phaidon International
    Seller
    Quilvest Capital Partners
    Industry
    Staffing & HR
    Location
    England, United Kingdom
    Type
    Buyout

    Funds managed by Further Global, supported by investor capital from Neuberger Berman, Pictet and OPTrust, have agreed to acquire Phaidon International from current sponsor Quilvest Capital Partners. The transaction will see Quilvest exit while management retains a significant stake; the investment is intended to fuel Phaidon's global growth and expansion to more than 1,400 staff and 15 offices.

  • Buyer
    E78 Partners, Further Global Capital Management
    Target
    Profit Enhancement Systems
    Industry
    IT Services
    Type
    Addon

    E78 Partners, a private-equity‑backed provider of finance, accounting and technology solutions, has acquired Profit Enhancement Systems (PES), a technology‑enabled managed service provider focused on cloud, mobility and infrastructure cost optimization. PES will form the basis of a new cost‑optimization business unit within E78, expanding E78's capability to reduce IT and cloud spend for Fortune 500, private equity portfolio and middle‑market clients. The deal was announced July 5, 2022; financial terms and a selling party were not disclosed.

  • Buyer
    E78 Partners, Funds advised by Further Global Capital Management
    Target
    Cadilus Inc.
    Type
    Addon

    E78 Partners acquired Cadilus Inc., a Richmond, Virginia-based FP&A consulting, managed-services and technology provider, effective February 28, 2022; terms were not disclosed. The deal adds Cadilus' DataPAx platform and FP&A expertise to E78's finance, accounting and portfolio-monitoring capabilities and is the first acquisition after funds advised by Further Global Capital Management invested in E78 in December.

  • Buyer
    Further Global Capital Management
    Target
    E78 Partners
    Seller
    Existing shareholders (including E78 management and employees)

    Funds advised by Further Global Capital Management have made a growth investment in E78 Partners, a Chicago-based provider of finance, accounting and technology solutions to the private capital industry. The investment will provide capital to accelerate E78's growth, expand its service offering and geographic footprint and support its M&A strategy; E78 management and employees will retain meaningful equity stakes.

  • Buyer
    Further Global Capital Management
    Target
    Progeny
    Location
    West Yorkshire, United Kingdom
    Type
    Buyout

    US-based private equity firm Further Global Capital Management has acquired a majority stake in UK financial planning firm Progeny; financial terms were not disclosed. The investment is intended to accelerate Progeny's organic and inorganic growth, support its acquisition strategy, and fund investments in technology, learning and development, marketing and an advisor academy; Progeny's senior management will remain in place and the firm employs roughly 230 people.

  • Buyer
    TowerBrook Capital Partners L.P., Further Global Capital Management
    Target
    ProSight Global, Inc.
    Seller
    ProSight stockholders (public shareholders; affiliates of Goldman Sachs Merchant Banking and TPG Global provided written consent)
    Industry
    Insurance
    Type
    Buyout

    TowerBrook Capital Partners and Further Global Capital Management agreed to acquire ProSight Global, Inc. (NYSE: PROS) in an all-cash transaction valued at approximately $586 million, taking the specialty insurance company private. TowerBrook will hold a majority stake with Further Global as a minority co-investor; Jonathan Ritz was named CEO as the new owners seek to expand ProSight's underwriting capabilities and invest in talent and technology.

  • Buyer
    Stone Point Capital, Further Global Capital Management, Permira funds (as part of the investor consortium)
    Target
    Duff & Phelps
    Seller
    Permira funds
    Type
    Buyout

    A global investor consortium led by funds managed by Stone Point Capital and Further Global agreed to acquire Duff & Phelps for $4.2 billion. Permira funds (the prior majority owner) will retain a significant stake as part of the consortium, and Duff & Phelps' management will maintain meaningful equity; the deal was announced January 22, 2020 and completed April 14, 2020.

  • Buyer
    Further Global Capital Management
    Target
    Payment Alliance International
    Type
    Buyout

    Further Global Capital Management, an employee-owned private equity firm focused on financial services, completed the acquisition of Payment Alliance International (PAI), the largest privately-held ATM provider in the U.S. PAI, headquartered in Louisville, Kentucky, operates over 75,000 ATMs and provides turnkey placements, managed services, processing and support services.

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