Capital Raise to Support Company’s Continued Growth and Expansion
MIAMI, BOSTON & NEW YORK–(BUSINESS WIRE)–Insigneo Financial Group, a fast-growing independent wealth management platform catering to international advisors and clients, announced today that Bain Capital Credit and J.C. Flowers & Co. LLC, with participation from private investors, have agreed to make a significant minority investment of $100 million in the Company. The capital will be used to accelerate Insigneo’s growth and expansion strategy.
Headquartered in Miami, Florida, Insigneo operates as an SEC-registered broker dealer and registered investment advisor. The Company also offers services through locally-regulated advisory firms in Montevideo, Uruguay; Buenos Aires, Argentina; and Santiago, Chile. Insigneo has successfully recruited top-tier financial advisors seeking more independence and has experienced noticeable growth since inception. Today, the Company’s independent wealth management platform supports 170 investment professionals (IPs), in addition to 37 partner firms that account for another 182 IPs, altogether servicing close to $13 billion in client assets.
“There’s great opportunity for Insigneo to continue on its growth trajectory as an independent wealth management firm focused particularly on the international front,” said Raul Henriquez, Insigneo’s Chairman and CEO. “The fact that two of the world’s leading private investment firms have chosen to support our growth plans is testament to our strong leadership and unique culture —focused on service, innovation and technology. We welcome Bain Capital Credit and J.C. Flowers as strategic partners and are confident their support will enhance our overall capabilities.”
“Raul and the Insigneo team have built a best-in-class wealth management platform to serve the evolving needs of international advisors and their clients,” said June Huang, Vice President at Bain Capital Credit. “We’re excited to partner with them on the next stage of their growth.”
“There is a growing demand for wealth management services in general, but especially in underserved Latin America, where Insigneo is very well positioned for further expansion,” said Richard Carrión, Operating Partner at J.C. Flowers. “We look forward to leveraging our deep financial services experience to help the Company identify and secure new opportunities.”
In conjunction with the transaction, Bain Capital Credit is providing debt financing for Insigneo’s previously announced acquisition of Citi International Financial Services, LLC (CIFS) and Citi Asesores de Inversion Uruguay S.A., from Citi.
About Insigneo Financial Group
Insigneo is a leading international wealth management firm offering a comprehensive menu of services and technology that empower investment professionals to manage their clients around the world. Insigneo currently supports over 350 investment professionals servicing more than 13,000 clients globally and close to $13 billion in assets. Additional information: www.insigneo.com
About Bain Capital Credit
Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $57 billion in assets under management. Bain Capital Credit invests across a full spectrum of strategies, including leveraged loans, high-yield bonds, distressed debt and special situations, private lending, structured products, non-performing loans, special situations real estate and majority and minority equity stakes. Founded in 1998 as a private, employee-owned firm, Bain Capital Credit’s experienced team of over 150 investment professionals seeks to identify attractive equity and credit investment opportunities across North America, Europe, and Asia-Pacific. In addition to credit, Bain Capital invests across asset classes including private equity, public equity, real estate and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.
About J.C. Flowers & Co.
J.C. Flowers is a leading private investment firm dedicated to investing globally in the financial services industry. Founded in 1998, the firm has approximately $5 billion of assets under management. J.C. Flowers has offices in New York and London with an approximately 20-person investment staff who have a combined 300+ years of experience. Over its history, J.C. Flowers has invested more than $17 billion of capital in 60 portfolio companies in 18 countries across a range of industry subsectors including banking, insurance and reinsurance, securities firms, specialty finance, and services and asset management. For more information, please visit www.jcfco.com.
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