Corsair Capital Announces Close of $600 Million Multi-Asset Continuation Vehicle and Secondary Co-Investment Fund
05.14.25
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Simpson Thacher advised Corsair Capital, a specialist investment firm targeting payments, software and business services investments in the financial services market, on the formation and raising of an approximately $600 million multi-asset continuation vehicle and secondary co-investment fund to acquire a diversified portfolio of three high-performing European portfolio companies across multiple Corsair funds in services, software and payments. The transaction was fully capitalized by a group of new and existing limited partners, led by Coller Capital.
The continuation fund, Corsair Riva, L.P. (or the “Fund”), was established to acquire a diversified portfolio of high-performing European portfolio companies across multiple Corsair funds in services, software and payments. The assets in the Fund are ZEDRA, an international player in trust, corporate and fund administration services, Redpin, a specialist provider of payments and embedded software for international property transactions, and IDnow, a leading continental European identity verification platform provider. A secondary fund was also raised to acquire a majority interest in IDnow.
The Simpson Thacher team included Ed Ford, Sacha Gofton-Salmond, James Ravden, Courtenay Stock, Ben Kyriazis, Andreea Gancea and James Connolly (Secondaries).