Aquiline Capital Partners LLC, the New York-based private equity firm headed up by Jeffrey Greenberg, former head of Marsh & McLennan Companies, said it closed on its initial fund, the Aquiline Financial Services Fund L.P., with $1.1 billion in total capital commitments.

Aquiline Financial will be invested in a wide range of companies in the financial services sector throughout the world, the fund announced.

Mr. Greenberg, managing principal, said Aquiline is "very pleased to have closed our initial fund."

"The reception by leading investors is gratifying recognition for Aquiline's senior investment professionals and is an endorsement of our approach to investing in the financial services sector and an appreciation for the strong start we have made," he added.

Aquiline invests in risk-bearing and services enterprises in industries such as property and casualty insurance, specialty finance, securities, asset management, life insurance and transaction processing.

In 2005, Aquiline sponsored the creation of Validus Holdings, Ltd., a Bermuda-based catastrophe reinsurance company.

On Jan. 30, 2006, the company issued a statement saying it bound $220 million in property, marine and energy, and specialty lines business, less than a month after opening for business.

Aquiline was one of a number of start-up companies begun in the wake of a devastating hurricane season as investors sought to fill the capacity crunch.

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Greenberg Fund Closes On $1.1B

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