Aquiline Capital Partners has hired Reinhard Koester, a former managing director and co-head of specialty finance and alternative asset managers at JP Morgan, according to a statement.
Koester joined Aquiline’s New York office on Monday. He will focus on banking and credit investments. Prior to JP Morgan, Koester worked in the specialty finance division at Goldman Sachs for 12 years, based in both London and New York. He was previously executive vice president and chief risk officer for The PMI Group in San Francisco and an associate at law firm Davis Pole & Wardwell.
“Reinhard will share his expertise across the firm and play a major role on our banking and credit team, which has become one of our most active areas,” said Jeff Greenberg, chief executive at Aquiline, in the statement.
Aquiline is investing its second financial services fund, which held a final close on $743 million in 2012. The firm had originally targeted $2 billion for the fund, according to Private Equity International’s Research and Analytics division. Aquiline’s first fund closed on $1.1 billion in 2007 and sent 80 percent of deal fees back to the fund.
New York-based Aquiline focuses on financial services enterprises in industries such as banking and credit, insurance, investment management and markets, and financial technology.