PE Deals

Aquiline Capital Partners makes investment in Smart

Smart is a global savings and investments technology platform provider.

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  • Aquiline’s Charles Janeway will join Smart’s board of directors as non-executive director
  • Aquiline is a private investment firm based in New York and London
  • The firm had $9.6bn in assets as of 31 December

Aquiline Capital Partners has invested in Smart, a global savings and investments technology platform provider.

Smart is headquartered in London. The company has over £5.5 billion (€6.3 billion;$6.85 billion) in assets and is expected to exceed £10 billion by the end of June following this funding round.

The total amount invested is $95 million and Aquiline is the lead investor. The existing investors who participated in the round include Chrysalis Investments, Fidelity International Strategic Ventures, DWS, Barclays and Natixis Investment Managers.

“Smart’s distinct retirement technology leadership coupled with Aquiline’s deep experience in the retirement technology industry makes this a compelling investment, as does the growing global need for better retirement saving technology,” said Jeff Greenberg, chairman and CEO of Aquiline.

This investment will bolster Smart’s global expansion plans, according to a release.

The proceeds from the funding round will also help finance near-term acquisitions and accelerate Smart’s investment in and distribution of its proprietary retirement savings technology platform, Keystone, the release added.

Smart reported group revenue of £67 million in 2022, a 65 percent increase on the previous year.

Aquiline’s Charles Janeway will join Smart’s board of directors as non-executive director.

Aquiline is a private investment firm based in New York and London investing in companies across financial services and technology, healthcare and business services. The firm had $9.6 billion in assets under management as of 31 December.

Perella Weinberg acted as financial adviser to Aquiline.

*Editor’s note: this article originally stated that Aquiline had invested $95 million. The total amount invested is $95 million and Aquiline is the lead investor.