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Napier Park Financial Partners

Overview

Financial Partners seeks investment opportunities to partner with management and co-investors to build high performing businesses in the financial services industry, providing companies with strong management teams, proven execution strategies and durable competitive advantages. We invest in both significant minority and majority equity positions; our commitment is to a collaborative partnership approach with our management teams and co-investors. Financial Partners’ team of investment professionals have extensive industry relationships and a track record of success.

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

Bill.com, Inc. is a rapidly-growing software-as-a-service (“SaaS”) provider of integrated bill payment, invoicing and cash flow management solutions for businesses. Bill.com controls the fastest business payments network in the country and originates and services customers through three principal channels: direct; accountants which utilize the platform to offer their clients outsourced support; and banks which are integrating Bill.com’s solution with their own platform enabling the banks to support the entire cash flow management process.

Bluefin Payment Systems (www.bluefin.com) is the leading financial technology provider of integrated, cloud-based payments for independent software vendors (ISVs), SaaS providers and major U.S. and Canadian merchants. The company’s PayConex platform empowers partners with highly secure payment solutions, meeting cardholder needs and greatly reducing PCI compliance requirements. Through PayConex, Bluefin offers a variety of payment products with the convenience of processing through a virtual terminal, the company’s mobile application, QuickSwipe, or encrypted point-of-sale (POS) devices. At the crux of PayConex is Bluefin’s security stack, which features point-to-point encryption (P2PE), transparent redirect, tokenization and hosted payment pages. Each tool helps companies eliminate payment data exposure through every step of the process – from capture, to transmission, to storage – protecting the corporate brand and reducing costs and overhead associated with managing payment security. Bluefin is headquartered in Atlanta, with offices in New York, Chicago, and Tulsa.

Evalueserve (“EVS”) provides outsourced research and analytic support on both a contracted and on-demand basis, offering support in market research, intellectual property and legal processes, business research, investment research, and data and analytics. EVS has more than 2,600 professionals worldwide with offices in Chile, China, India and Romania serving a client base which includes more than 50 Fortune 500 firms, 100+ additional large companies with greater than $1bn in annual revenues, and 400 smaller enterprises.

Georgia Commerce Bancshares, Inc. (“GCB”) is an Atlanta-based commercial bank serving professionals, executives and small- and mid-sized businesses. GCB was established in 2003 by current CEO Mark Tipton and current President Rodney Hall, each formerly with First Union Corporation, and is a state-chartered commercial bank. At Q2 2013, GCB had approximately $785M in total assets, ~100 employees and 7 metropolitan Atlanta offices.

Founded in 2002, HealthEquity, Inc. (“HQY”) is a leader in the growing market for technology-enabled services that empower consumers to make healthcare saving and spending decisions. HQY provides consumers with access to tax-advantaged healthcare savings accounts (“HSAs”), enables them to compare treatment options and pricing, to evaluate and pay any healthcare bill, to receive personalized benefit and clinical information, to earn wellness incentives, and to make educated investment choices to grow their tax-advantaged healthcare savings.   The Company accesses consumers through health plan distribution agreements and through corporate employers, and is based in Draper, UT.

Jefferson National Financial is a leading innovator, singularly focused on serving the rapidly growing market of registered investment advisors (RIAs) and fee-based advisors with tax-advantaged investing solutions. Named the industry “Gold Standard” for its unique approach, Jefferson National leverages innovative technology and an award-winning direct marketing distribution model to offer low fees, greater transparency, more choice, and greater value.

Lendio is a free online service that helps business owners find the right small business loans within minutes. The center of small business lending, Lendio’s passion is fueling the American Dream by uniting the small business loan industry and bringing all options together in one place, from short-term specialty financing to long-term low-interest traditional loans. Lendio’s technology makes small business lending simple, decreasing the amount of time and effort it takes to secure funding.

Nvoicepay is the leader in payment automation software for the enterprise, transforming the massive and expensive effort that goes into paying suppliers into a simple, automated process. Nvoicepay optimizes payments with intuitive cloud-based software, comprehensive supplier services and the strongest security in the industry, serving thousands of corporate customers paying hundreds of thousands of suppliers each day. Nvoicepay was founded in 2009 and is headquartered in Portland, Oregon.

Reval Holdings, Inc. (“Reval”) is a global software-as-a-service (“SaaS”) provider of comprehensive and integrated treasury and risk management (TRM) applications. Reval’s cloud-based software and related offerings enable enterprises better to manage cash, liquidity and financial risk, and includes specialized capabilities to account for and report on complex financial instruments and hedging activities under GAAP and IFRS. Using Reval, Global 2000 companies can optimize treasury and risk management activities across the enterprise for greater operational efficiency, security, control and compliance. Reval is headquartered in New York with regional centers across North America, EMEA and Asia Pacific.

TIO Networks is a cloud-based multi-channel bill payment processing and receivables management provider, serving the largest telecom, wireless, cable, and utility bill issuers in North America. TIO integrates with the back office of billing systems to accept, validate, and collect payments outside of the traditional bank channel, via self-service kiosk, retail walk-in, mobile, and web solutions. With over 66,000 endpoints in its processing network, TIO symbolizes fast, convenient, and secure access to expedited bill payment services.

Team

Manu Rana
Managing Director

Manu founded Financial Partners in 2007 and has 20 years of experience in financial services.  He is also a Founding Partner and Management Committee member of Napier Park Global Capital.  Prior to founding Financial Partners, Manu was a Managing Director of Old Lane, where he led negotiated investments in financial services businesses.  Manu 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 Alternative Investments, Manu was responsible for equity and debt investments in financial services and related business, including information services.  Manu started at Lazard Frères & Co in in 1994 in its financial institutions investment banking group, and in 2000 joined Lazard Alternative Investments.  Prior to Lazard, Manu was a member of A.T. Kearney’s financial institutions practice.  Manu received an AB from Columbia College at Columbia University.

Current Boards:BlueFin Payments, HealthEquity, Reval, TRIP Rail Holdings and RIV 2013 Rail Holdings.

 

Prior Representative Investments:  Beecher Carlson, FNX Solutions, Princeton eCom.

Steven Piaker
Managing Director

Steve joined Financial Partners in 2011 and has over 25 years of experience in financial services.   He is a Founding Partner and Management Committee member of Napier Park Global Capital.  Prior to joining Financial Partners, Steve was a Managing Partner at CCP Equity Partners, where he co-managed the firm and led financial services and business services investments.  Steve joined CCP Equity Partners in 1994 from Conseco Inc., where he helped to form 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.

Current Boards: Bill.com, Jefferson National Financial, Nvoicepay, TIO Networks Corp.

Prior Representative Investments: Clark Bardes, Finetre, Intersections, Magnet, MMV Financial, Paycycle, Princeton eCom, Softgate Systems, Sterling Autobody, Telebank, TRIP Rail Holdings and RIV 2013 Rail Holdings

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: Lendio, Bluefin Payments

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

Ned May
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.

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
Associate

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.

Mario Ruiz
Associate

Mario joined the Financial Partners team in 2013. Prior to this, Mario was an Associate in the Financial Institutions Group at Barclays in New York, focusing on mergers & acquisitions. Mario received a BA from Baruch College.

Manu Rana
Managing Director
Daniel Kittredge
Managing Director
Spyro Stathonikos
Director, Finance
Mario Ruiz
Associate
Steven Piaker
Managing Director
Ned May
Director
Steve Lula
Associate

News

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