Preservation Capital Partners

What Preservation Capital Partners does

Preservation Capital Partners (PCP) is a London-based lower middle market private equity firm founded in 2017 that specializes exclusively in control investments across the financial and business services sectors in Western Europe. The firm partners with management teams of market-leading, asset-light businesses with proven resilient models and recurring revenues, providing strategic, operational, and financial guidance rather than relying on financial engineering. PCP's portfolio spans insurance distribution (BMS Group, Optio, BPL), wealth management and WealthTech (Parmenion, Saltus), and professional services (Vallei Finance Group), with HBC recently exited to Bridgepoint and Ascent Underwriting as a realized investment.

PCP operates as a fund manager running three active vehicles: Fund I (£309M hard cap, closed 2020), Strategic Opportunities Fund I (£150M continuation fund, closed 2023), and Fund II (€459M, closed March 2024), collectively representing approximately €1 billion in AUM. The firm raises capital from institutional investors including public pension plans, funds of funds, and institutional family offices, and deploys capital via control buyouts and buy-and-build strategies supported by management retention of significant equity. The investment team of around 15 FTEs is led by founder Jatender Aujla (formerly Warburg Pincus) and draws on experience from TowerBrook, Corsair, J.C. Flowers, EQT, Centerbridge, and Partners Group.

The firm differentiates through deep sector specialization rather than technology. Notable portfolio-company technology assets include Parmenion's adviser platform with access to 600+ third-party funds, Optio's proprietary quote-and-bind technology for specialty MGAs, Heca's all-in-one broker CRM with blockchain verification, and Crebita's real-time digital credit insurance platform. PCP is FCA-authorized, a UN-PRI signatory, and based at 25 Golden Square, London.

Name

Preservation Capital Partners

Legal name

Preservation Capital Partners Limited

Website

https://www.preservationcapitalpartners.com/

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Preservation Capital Partners is a London-based lower middle market private equity firm founded in 2017 that makes control investments in asset-light financial and business services companies across Western Europe, managing approximately €1 billion AUM across three active funds.

Ownership category

akta.pro rank

Product category

Private Equity Fund Management

NAICS

Other Financial Vehicles (525990), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

HoldCo / Permanent Capital ETA (FSANALAE)

Keywords

• Private equity investing
• Financial services investments
• Control investments
• Buy-and-build strategy
• Fund management services

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Fund Management Fees: Private equity firm that generates returns through fund management by investing in financial and business services companies in Western Europe. Returns are generated through underlying revenue and earnings growth of portfolio companies.
2. Carried Interest / Performance Fees: Creates value through buy-and-build strategies, operational improvements, and eventual exit of portfolio companies. Fund I raised £309m, Fund II raised €459m, Strategic Opportunities Fund I raised £150m.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Preservation Capital Partners is a specialist private equity firm that makes control investments in market-leading financial and business services companies across Western Europe. The firm raises and manages private equity funds (Fund I £309m, Fund II €459m, Strategic Opportunities Fund I £150m), invests alongside management teams, and creates value through revenue and earnings growth, buy-and-build strategies, technology enablement, and operational improvements.

Product overview

Preservation Capital Partners is a specialist private equity firm that operates as a fund manager rather than a product company. PCP manages multiple investment vehicles including PCP Fund I (£309m hard cap, 2020), PCP Fund II (€459m, 2024), and PCP Strategic Opportunities Fund I (£150m continuation fund, 2023). The firm focuses on control investments in asset-light financial services and business services companies across Western Europe, with portfolio companies spanning insurance distribution (BMS, Optio), wealth management technology (Parmenion, Saltus), professional services (Vallei), credit and political risk insurance (BPL), and specialty MGA businesses (Ascent). PCP creates value through strategic guidance, operational expertise, and supporting portfolio companies' growth via M&A and organic expansion.

Differentiator

Problem solved

Functional benefit

Products and services

• PCP Fund I Preservation Capital Partners' debut private equity fund closed at a £309 million hard cap in 2020, focused on control investments in asset-light financial and business services companies across Western and Northern Europe.
• PCP Fund II Preservation Capital Partners' second flagship private equity fund closed at €459 million in March 2024, focused on control investments in asset-light financial services companies across Western Europe.
• PCP Strategic Opportunities Fund I A £150 million continuation fund raised in 2023 for reinvestment into BMS Group alongside co-investments from existing LPs including BCI and Eurazeo.
• Control Investment Programme in Financial and Business Services PCP's primary investment approach focused on acquiring control stakes in market-leading, asset-light financial and business services companies across Western Europe, creating value through revenue and earnings growth, buy-and-build strategies, and operational improvements.

Quantifiable outcome

• Fund II grew 30% from Fund I, closing at €459 million against predecessor fund of €350 million
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• Cove ProgramscoreStrategic or Co-development Partner · 18 February 2019PCP made a strategic investment in US construction-focused MGA Cove Programs. Together with Ascent Underwriting, the combined business manages in excess of $200 million GWP, making it one of the largest independently owned emerging risk and specialty lines MGAs. The two companies operate under their respective brands while senior management drove combined value creation.
• Ascent UnderwritingcoreStrategic or Co-development Partner · 2 November 2017PCP's first investment was in Ascent Underwriting, a leading cyber and specialty lines MGA in the Lloyd's market. Ascent was founded in 2013 and grew to become one of the leading cyber markets in Lloyd's. PCP provided growth capital for development of new business lines and M&A. Management retained significant shareholding.

Scale indicators8 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Bowmark Capital: Bowmark Capital is a London-based mid-market PE firm focused on UK business services and financial services. It is directly comparable to PCP in target deal size, sector focus on asset-light recurring-revenue models, and geographic concentration in the UK and Western Europe.
• Penta Capital: Penta Capital is a London-based mid-market PE firm focused on UK and European financial services businesses including insurance, wealth management, and specialist lenders. It is a directly comparable lower mid-market specialist with similar deal size and asset-light thesis to PCP.
• Centerbridge Partners: Centerbridge is a US- and London-based PE firm with a focused financial services vertical targeting asset-light businesses. PCP MD Armin Holeisen and EA Deborah Orden both joined from Centerbridge, making it a peer with overlapping deal sourcing, target profile, and team DNA.
• AnaCap Financial Partners: AnaCap is a London-based specialist PE investor in European financial services. It targets control and growth investments in financial services and tech-enabled services, with a comparable mid-market focus and overlapping sub-sectors (insurance, lending, payments). PCP founder Jatender Aujla started his career as an analyst at AnaCap.
• Corsair Capital: Corsair Capital is a New York- and London-based private equity firm exclusively focused on asset-light financial services businesses. It is the closest direct competitor to PCP, with virtually identical investment thesis (insurance distribution, wealth management, financial technology), geography, and team pedigree (a former VP at Corsair, Fares Bouhadiba, joined PCP in 2024).
• TowerBrook Capital Partners: TowerBrook is a London- and New York-based PE firm with a dedicated financial services vertical focused on asset-light businesses. PCP Partner Jeroen Bischops previously led TowerBrook's European financial services private equity practice, making it a directly comparable peer in thesis, scale, and team composition.
• Inflexion Private Equity: Inflexion is a UK mid-market PE firm with an established financial services practice covering insurance, wealth management, and business services. PCP CFO Nawaz Ahmed was previously Head of Fund & Corporate Accounting at Inflexion, and the firm is a comparable London-based mid-market sponsor with overlapping portfolio themes.

Broad incumbents

• Bridgepoint Group: Bridgepoint is a large quoted European mid-market PE firm with financial services as a core vertical. It acquired HBC from PCP in 2025, making it both a transaction counterparty and a scaled competitor with materially larger fund sizes (Fund VI ~€4bn+). Comparable in sector focus but broader in geography and deal size.
• EQT Partners: EQT is a large global PE firm with a dedicated Financial Services strategy covering asset-light businesses in Europe. PCP VP Giulia Monteduro joined from EQT in 2025, and EQT competes with PCP for similar mid-market European financial services platforms but at materially larger scale.
• Cinven: Cinven is a large European PE firm with a long-standing financial services franchise (insurance, wealth management). PCP Investment Committee member Brian Linden is a Cinven founding partner. Comparable sector focus but materially larger fund sizes (€13bn+ Fund 8) and broader European mandate.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/preservation-capital-partners

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Preservation Capital Partners