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Napier Park Financial Partners

Overview

Napier Park Financial Partners ("Financial Partners") invests exclusively in high growth companies at the intersection of financial services and technology. We target emerging growth companies with durable competitive advantages and leverage our decades of experience and extensive industry relationships to help build successful businesses. The Financial Partners team has backed 30+ companies over the last twenty years; current and prior portfolio companies span the principal financial services sectors including Payments, Banking and Lending, Insurance and Benefits, Asset and Wealth Management, and broader Business Services and Outsourcing.

Financial Partners is the private equity group of Napier Park Global Capital, a global alternative asset management platform with more than $9 billion in assets under management.

Growth Equity

Our Focus & Philosophy

Focused exclusively on growth
businesses
in financial services

Focused exclusively on growth businesses in the financial services sector that provide valuable services and solutions to their clients with durable competitive advantages

  • Particular focus on companies that are capitalizing on growth opportunities created by the intersection of financial services and applications of new products and technologies
  • Extensive experience in underwriting and investing in complex transactions subject to changing industry dynamics and regulatory oversight

Committed to a
partnership approach

Committed to a partnership approach with our management team partners and institutional and individual co-investors

  • Seek opportunities to be an active, value-added investor and board member focused on collaboration versus control

Providing a flexible
source of capital

Committed to providing a flexible source of capital both at the time of initial investment and during any successive financing rounds in support of continued growth or shareholder liquidity

  • Seek to provide innovative financing structures that align our interests with portfolio companies and their liquidity and capitalization objectives

Commitment to success and
building strong relationships

Commitment to success and building strong relationships are at the core of our investment values and philosophy

  • Our experience as investors and entrepreneurs allows us to appreciate the level of commitment required to succeed and importance of being thoughtful and lending a steady hand during both good and challenging times of the economic and investment cycles
  • Our singular industry focus and breadth of transaction experience provide us with extensive relationships that we use to support each of our portfolio companies
  • Our partnership approach emphasizes building and strengthening those relationships with the portfolio company management teams and co-investors as we believe that it will benefit our investment returns, the quality of our experiences and contribute to overall long-term success
Our Target Profile
Business Profile

Financial services related companies that have talented and committed management, attractive market opportunities, and proven execution strategies to generate superior revenue growth and unit economics driving attractive long-term returns on capital

Target Investment Size

$5-30 million initial investment size; ability to make substantially larger investments in conjunction with our Limited Partners

Types of Financings

Primary growth, secondary sales, partial and full recapitalizations, acquisition financings and other special situations

Company Size and Stage

Focused on high organic growth businesses as well as industry consolidation strategies and pre-IPO financings; must have proven business models generating run-rate revenues greater than $5 million

Investment Ownership

Minority and majority interest

Why Financial Partners
Broad industry expertise in financial services and expansive network of relationships
  • Investing experience across financial services industry sectors, including financial technology services and outsourcing solutions, payments, financial product distributors, asset and wealth management, capital markets solutions, banking, specialty finance and insurance
  • Our collective experiences allow us to understand and provide insight into the many unique challenges of growing a business in the financial services industry
  • Our industry network enables us to expand our portfolio company’s reach
Proven ability to partner with management to assist with financial and operational growth challenges and help finance continued growth as a lead or co-lead investment partner
  • Experienced investor across a company’s lifecycle, from late stage venture through more mature consolidation acquisition strategies
  • We believe that there are significant benefits to having a committed Financial Partner that can actively support a growth company’s strategic, operational, human capital, and financial needs, including helping to lead internal and external follow-on financings
Ability to leverage Napier Park Global Capital platform, a multi-billion dollar manager of global alternative assets
  • Providing a broader network of senior executives and corporate relationships, valuable insights into domestic credit and macro markets, and access to global investment relationships to help fund significant investments well beyond our fund investment limits

Our Portfolio

SaaS payment management platform for SMBs

Year Invested: 2011

Status: Current

Integrated payment security solutions for merchants, gateways and processors

Year Invested: 2009

Status: Current

Business process & analytics outsourcing for financial services companies

Year Invested: 2010

Status: Current

Atlanta-based commercial bank built up post-Great Recession

Year Invested: 2011

Status: Realized – Completed sale to IBERIABANK in May 2015

Largest U.S. non-bank provider of health savings account (HSA) administration

Year Invested: 2011

Status: Realized – Completed IPO in August 2014 (NASDAQ: HQY)

Tax-advantaged investing solutions for the fee-based advisor market

Year Invested: 2011

Status: Realized – Completed sale to Nationwide Financial in March 2017

SMB lending marketplace

Year Invested: 2015

Status: Current

Enterprise payment automation software and services

Year Invested: 2016

Status: Current

Investor relations and capital markets solutions

Year Invested: 2018

Status: Current

Data infrastructure / analytics platform serving FinServ and FinTech markets

Year Invested: 2017

Status: Current

Integrated treasury and risk management applications

Year Invested: 2013

Status: Realized – Completed sale to ION Investment Group in November 2016

Multi-channel payment alternatives for underbanked consumers

Year Invested: 2009

Status: Realized – Completed sale to PayPal in July 2017

Restaurant-focused mobile point-of-sale (POS) platform

Year Invested: 2017

Status: Current

Team

Manu Rana
Partner and Co-Head, Private Investments

Manu Rana is a Partner and a Co-Head of Financial Partners at Napier Park Global Capital (“Napier Park”). Napier Park separated from Citigroup’s alternative investment arm, Citi Capital Advisors (“CCA”), in February 2013. Prior to joining CCA in 2007, Mr. Rana was a Managing Director of Old Lane, where he led negotiated investments in financial services businesses. Mr. Rana joined Old Lane from Lazard Alternative Investments, where he was a Managing Director of the firm and a Principal of Lazard Technology Partners. At Lazard, Mr. Rana was responsible for equity and debt investments in financial- and related business, as well as information services investments. Mr. Rana started at Lazard in 1994, initially in its financial institutions investment banking group and, from 2000 on, he worked at Lazard Alternative Investments. Prior to Lazard, Mr. Rana was a member of A.T. Kearney’s financial institutions practice. Mr. Rana received a BA from Columbia University.

Steven Piaker
Partner and Co-head, Private Investments

Steve Piaker is a Partner and a Co-Head of Financial Partners at Napier Park Global Capital (“Napier Park”). Napier Park separated from Citigroup’s alternative investment arm, Citi Capital Advisors (“CCA”), in February 2013. Prior to joining CCA in 2011, Steve was a Managing Partner at CCP Equity Partners, a fund initially sponsored by Conning & Company and Swiss Re, where he led negotiated investments in financial services businesses. Steve joined CCP Equity Partners’ predecessor fund Conning Capital Partners in 1994 from Conseco Inc., where he was involved in forming Conseco's private equity funds. Prior to Conseco, Steve was a founding member of the financial institutions group within GE Capital Corporation's leveraged buyout division. Steve began his career with Chase Manhattan Corp and is a Chartered Financial Analyst. Steve received a BA from the University of Rochester and an MBA from Duke University's Fuqua School of Business.

Daniel Kittredge
Managing Director

Dan joined Financial Partners in 2014 and has 17 years of experience in financial services.  Prior to joining Financial Partners, Dan was vice president of investments at Security Benefit Corporation, a Guggenheim Partners affiliate, where he focused on leading private investments. Before that, he was a principal at Berkley Capital, a subsidiary of W.R. Berkley, where he focused on financial services and financial technology private equity and mezzanine debt investments for over ten years. Dan began his investing career at J.H. Whitney, prior to which he was an investment banker initially at Lazard, focusing on financial institutions, and subsequently at Banc of America Securities, focusing on insurance. Dan received a BA from Bowdoin College where he majored in mathematics and graduated summa cum laude.

Current Boards: Bluefin Payments, Lendio, TouchBistro

Prior Representative Investments (prior to Financial Partners): HealthEquity, FSV Payment Systems, Risk Strategies, TIP Capital, Pay-O-Matic, Insurance.com

Ned May
Managing Director

Ned joined the Financial Partners team in 2015 and has over 10 years of experience investing in and advising financial services businesses. Previously, Ned was a Vice President at Morgan Stanley Global Private Equity, Morgan Stanley's middle market private equity fund, where he helped to lead the team's efforts in the financial services sector. Prior to joining Morgan Stanley, Ned was an Associate at Lightyear Capital and before that, an Analyst in the Investment Banking Group at Keefe, Bruyette & Woods. Ned received a BA from Williams College and an MBA from The Wharton School of the University of Pennsylvania.

Current Boards: Quovo, TouchBistro (Observer)

Spyro Stathonikos
Director, Finance

Spyro is a Director at Napier Park Global Capital. Spyro joined Citi Capital Advisors in 2005 as the controller and finance manager of a fixed income multi-strategy hedge fund platform. Spyro’s responsibilities include product management, accounting and valuation oversight, and financial analysis. Prior to joining Napier Park, Spyro worked in KPMG’s audit practice focusing on public company and alternative investment audits. Spyro received a BComm from the Haskayne School of Business, and is a member of the Institute of Chartered Accountants of Alberta (Canada).

Steve Lula
Vice President

Steve joined the Financial Partners team in 2016.  Previously, Steve was an Investment Banking Associate in the Financial Institutions Group at Morgan Stanley.  Prior to Morgan Stanley, Steve was an analyst at Ally Financial where he worked on securitization and asset-backed debt transactions.  Steve received a BBA from Western Michigan University and an MBA from Columbia University.

Mark Casale
Associate

Mark joined the Financial Partners team in 2017. Prior to this, Mark was an Analyst in the Financial Institutions Group at Credit Suisse in New York. Mark received a BA from Franklin & Marshall College.

Manu Rana
Partner and Co-Head, Private Investments
Daniel Kittredge
Managing Director
Spyro Stathonikos
Director, Finance
Mark Casale
Associate
Steven Piaker
Partner and Co-head, Private Investments
Ned May
Managing Director
Steve Lula
Vice President

News

Financial Partners and Portfolio Company News