Finback Investment Partners will deploy its oversubscribed second fund by co-investing alongside major private equity firms, using its high-profile political and executive network to source and grow deals.
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Jeb Bush’s Finback Raises $500 Million Fund for AI and Infrastructure Bets
Finback Investment Partners, the private equity firm co-founded by former Florida Governor Jeb Bush, has closed its second fund with nearly $500 million in commitments to invest in the ongoing buildout of artificial intelligence and national infrastructure.
"The infrastructure of the country is being rebuilt,” Bush said, according to a statement. “There’s a lot of reindustrialization taking place,” he added, pointing to opportunities in data centers, grid modernization, and manufacturing support services.
The oversubscribed fund exceeded its $350 million target and brings the firm’s total assets under management to approximately $1.1 billion. It continues Finback’s strategy of using its “Network Capital”—a group of advisers including former heads of state like the UK’s David Cameron and Canada’s Stephen Harper—to support portfolio companies. The firm has already deployed about 40 percent of the new capital into seven companies, including cybersecurity firm ReliaQuest and insurance broker HUB International.
The successful fundraise, which drew capital from over 200 family offices and wealthy individuals, comes during an industry-wide drought for private equity exits, making the fresh capital a significant tool for deployment. Finback plans to make 12 to 14 investments from the fund, writing checks up to $60 million per deal, as it provides co-investment capital to buyout and growth deals led by firms like Warburg Pincus and Great Hill Partners.
The Network Capital Model
Finback’s core strategy revolves around activating its web of high-profile executives, policymakers, and investors to benefit its portfolio companies. The firm, which started by raising capital on a deal-by-deal basis, now manages about $1.1 billion and uses its network to help with everything from business development to market entry.
“They are an integral part of the network and the network capital that we put to work,” said Finback founding partner Jack Oliver of the fund’s investors.
The firm has already backed a diverse set of companies with its new fund, reflecting its broad mandate. Investments include:
- HUB International: A large insurance brokerage.
- OMNIA Partners: A group purchasing organization for the public sector.
- ReliaQuest: A cybersecurity company.
- Blue Cloud: A provider of dental and oral surgery centers for children.
- HealthEdge: A health insurance claims software provider.
This article is for informational purposes only and does not constitute investment advice.
[1] Jeb Bush’s Finback Investment Raises Nearly $500 Million for New Fund - WSJ[2] Jeb Bush’s Finback Investment Raises Nearly $500 Million for New Fund[3] Finback Investment Partners Closes Second Private Equity Fund with Nearly $500 Million[4] Finback Investment Partners Closes Second Fund at Nearly $500M[5] Senate Confirms Kevin Warsh As Fed Chair
