{{Short description|American private equity investment firm}} {{About|the private equity firm|the private equity investor|J. Christopher Flowers}} {{Infobox company | name = J.C. Flowers & Companies | logo = JCFlowers.png | logo_size = 250px | type = Private | genre = | founded = {{start date and age|2001}} | founder = J. Christopher Flowers | location = New York, New York, United States | key_people = | industry = Private equity, Financial services | products = Leveraged buyout, Growth capital | services = | revenue = | operating_income = | net_income = | assets = $7.9 billion | aum = {{decrease}} US$5.4 billion<ref name=wallmine>{{cite web|url=https://wallmine.com/adviser/211929/j-c-flowers-co-llc|title=J.C. Flowers & Co. LLC (New York) |work=Wallmine|access-date=August 15, 2024}}</ref> | equity = | owner = | num_employees = | parent = | divisions = J.C. Flowers I L.P. and J.C. Flowers II L.P. | subsidiaries = | slogan = | website = [http://jcfco.com jcfco.com] | footnotes = | intl = }}
'''J.C. Flowers & Co.''' is an American private equity investment firm, focused on investments in the financial services sector. The firm, founded in 2001,<ref>{{cite web |url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=1089967 |archive-url=https://web.archive.org/web/20071012233059/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=1089967 |url-status=dead |archive-date=October 12, 2007 |title=JC Flowers profile |publisher=BusinessWeek |accessdate=2008-04-16}}</ref> is based in New York City and run by billionaire<ref>{{cite web |url=https://www.forbes.com/lists/2007/10/07billionaires_J-Christopher-Flowers_6MBS.html |title=Billionaire list - J Christopher Flowers |work=Forbes |date=2007-10-07 |accessdate=2008-04-16}}</ref> J. Christopher Flowers, a former Goldman Sachs partner.<ref>{{Cite news|url=https://www.forbes.com/profile/j-christopher-flowers/|title=J. Christopher Flowers|work=Forbes|access-date=2017-07-14|language=en}}</ref> As of 2017, the firm had invested more than $15 billion in capital.<ref>{{Cite news|url=http://www.insurancejournal.com/news/international/2017/05/25/452173.htm|title=Private Investment Firm, J.C. Flowers, Acquires UK General|date=2017-05-25|work=Insurance Journal|access-date=2017-07-14|language=en-US}}</ref>
JC Flowers manages two private equity funds, J.C. Flowers I LP, closed in 2002 with $900 million of committed capital, and J.C. Flowers II LP, closed in 2006 with $7.0 billion of committed capital. Both funds are focused exclusively on the financial services sector. JC Flowers in Europe is led by its managing director, David Morgan.<ref>{{cite web |url=https://www.ft.com/content/e0c45060-d8b4-11de-99ce-00144feabdc0 |title=JC Flowers hires financial heavyweights |work=Financial Times |date=2009-11-24 |accessdate=2010-05-28}}</ref>
== Investments == JC Flowers' most notable investments include such financial services companies as: * Chi-X Australia along with Chi-X Japan and Chi-Tech Hong Kong * Enstar Group * Shinsei Bank * NIBC Bank N.V. * Hypo Real Estate Group (Germany) (formerly 24.9%) * First Bank (Romania) (76.1%) * HSH Nordbank (Germany) (26.6%) * Fox-Pitt Kelton Cochran Caronia Waller * Equita Sim (Italy) (50.01%) * Eurovita (Italy) (78.19%) * MF Global (US) (6.8%) * One Savings Bank (UK) - Specialist Mortgage Lender
=== Other notable activity=== JC Flowers has also been active in a number of high-profile contemplated transactions that did not occur. In mid-2007, an investor group led by JC Flowers signed an agreement to purchase Sallie Mae for approximately $25 billion (USD), giving JC Flowers and Friedman Fleischer & Lowe 50.2 percent of the company. This deal fell through, however.<ref>{{cite web |url=http://www.timesleader.com/business/20080118_18_layoffs_biz_ART.html |title=Jobs lost at Sallie Mae, J.C. Penney |publisher=Times Leader |date=2008-01-18 |accessdate=2008-04-16 |archive-url=https://web.archive.org/web/20090221083156/http://www.timesleader.com/business/20080118_18_layoffs_biz_ART.html |archive-date=2009-02-21 |url-status=dead }}</ref> In late 2007, JC Flowers was one of the many companies bidding for the troubled British Bank, Northern Rock.<ref>{{cite news |url=https://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/10/26/cnrock126.xml |archive-url=https://web.archive.org/web/20071029184403/http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/10/26/cnrock126.xml |url-status=dead |archive-date=October 29, 2007 |title=JC Flowers reveals Northern Rock bid team |publisher=The Daily Telegraph |date =2007-10-26 |accessdate=2008-04-16 | location=London | first1=Edmund | last1=Conway | first2=Russell | last2=Hotten}}</ref> They pulled out of the bidding in December.<ref>{{cite news |url=http://uk.reuters.com/article/hotStocksNews/idUKWLB426020071207 |archive-url=https://web.archive.org/web/20071213055555/http://uk.reuters.com/article/hotStocksNews/idUKWLB426020071207 |url-status=dead |archive-date=December 13, 2007 |title=JC Flowers seen exiting N. Rock race| date=2007-12-07 |publisher=Reuters |accessdate=2008-04-16 | first=Steve | last=Slater}}</ref>
On January 21, 2008, JC Flowers made an informal bid of £4bn for Friends Provident.<ref>{{cite news |url=http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3221929.ece |archive-url=https://web.archive.org/web/20090514043415/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3221929.ece |url-status=dead |archive-date=May 14, 2009 |title=JC Flowers in £4bn bid for troubled Friends Provident |work=The Times |date=2008-01-21 |accessdate=2008-04-16 | location=London | first=Christine | last=Seib}}</ref> A revised bid of £3.5 billion was rejected.<ref>{{cite news |url=http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3650870.ece |archive-url=https://web.archive.org/web/20090514043421/http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article3650870.ece |url-status=dead |archive-date=May 14, 2009 |title=Friends Prov rejects new £3.5bn Flowers offer |work=The Times |date=2008-03-31 |accessdate=2008-04-16 | location=London | first=Patrick | last=Hosking}}</ref> On March 14, 2008, JC Flowers was reported to be in talks to buy troubled US investment bank Bear Stearns.<ref>{{cite web |url=https://www.cnbc.com/id/23651058 |title=Bear Stearns Weekend Talks Reveal 2 Key Contenders |publisher=CNBC |date=2008-03-14 |accessdate=2008-04-16}}</ref> On April 16, 2008, JC Flowers issued an offer to buy 24.9% of the shares of Hypo Real Estate Group at a price of €22.50 per share.<ref>{{cite web |url=http://www.hyporealestate.com/eng/pdf/AdHoc_Osiris_engl_final.pdf |title=A group of investors coordinated by J.C. Flowers intends to submit a public offer to purchase around 24.9% of the shares of Hypo Real Estate Holding AG. |date=2008-04-16 |accessdate=2008-04-16 |archive-url=https://web.archive.org/web/20080910105111/http://www.hyporealestate.com/eng/pdf/AdHoc_Osiris_engl_final.pdf |archive-date=2008-09-10 |url-status=dead }}</ref> At the end of 2006, JC Flowers purchased a company called PanEuroLife in Luxembourg and started to build the NewPELGroup.<ref>{{Cite web|url=http://www.agefi.lu/Mensuel-Article.aspx?date=Jan-2007&mens=131&rubr=890&art=10073|title=PanEuroLife : J.C. Flowers installe ses bureaux à Capellen dans l'immeuble CAP 2|website=www.agefi.lu|access-date=2017-07-14}}</ref>
In July 2010 JC Flowers announced its intention to purchase a stake in the UK's Kent Reliance Building Society<ref>{{cite news |url=https://www.bbc.co.uk/news/10594824 |title=Kent Reliance and JC Flowers in joint venture talks |publisher=BBC News |date=2010-07-12 |access-date=2010-07-12}}</ref> and this deal was completed on 1 February 2011 with the formation of OneSavings Bank Plc.
In December 2012 JC Flowers was reported to have submitted a non-binding first-round bid for the 316 branches being re-auctioned by The Royal Bank of Scotland Group.<ref>{{cite news |url=http://www.heraldscotland.com/business/company-news/nationwide-pulls-out-of-bidding-for-rbs-branches.19678462 |title=Nationwide pulls out of bidding for RBS branches |publisher=Herald|date=2012-12-15 |accessdate=2010-07-17}}</ref> In July 2013, JC Flowers agreed to buy £450 million of loans belonging to struggling British bank Northern Rock.<ref>{{cite news| url=https://www.reuters.com/article/us-northernrock-jcflowers-idUSBRE96G1CH20130717| title=J.C. Flowers set to buy portion of Northern Rock loans: paper | author=Abhishek Takle | publisher=Reuters | date=17 July 2013}}</ref>
In October 2016, JC Flowers aided the acquisition of retail stockbroker TD Direct Investing Europe by a smaller rival Interactive Investor to create the United Kingdom's second-biggest online fund supermarket.<ref>{{cite news|url=https://www.ft.com/content/54ef4116-9082-11e6-8df8-d3778b55a923|title=TD Direct Investing bought by 'challenger' broker|author=Aime Williams|date=12 October 2016|publisher=Financial Times|url-access=subscription }}</ref>
In May 2017, JC Flowers completed the acquisition of the insurance company UK General for an undisclosed sum.<ref>{{Cite news|url=http://www.insurancejournal.com/news/international/2017/05/25/452173.htm|title=Private Investment Firm, J.C. Flowers, Acquires UK General|date=2017-05-25|work=Insurance Journal|access-date=2017-07-14|language=en-US}}</ref>
As of March 2026, private equity firm Centerbridge Partners was believed to have held talks with JC Flowers regarding a potential partnership to take over Irish lender Permanent TSB (PTSB).<ref>{{Cite web |last=Carey |first=Brian |date=2026-03-28 |title=Top US private equity firms set to team up for final PTSB push |url=https://www.thetimes.com/world/ireland-world/article/top-us-private-equity-rms-set-to-team-up-for-final-ptsb-push-zprv8gdqd |access-date=2026-03-30 |website=www.thetimes.com |language=en-GB}}</ref><ref>{{Cite web |date=2016-03-30 |title=Permanent TSB says private equity firms sizing up takeover tilt |url=https://global.morningstar.com/en-gb/news/alliance-news/1774856794398279400/permanent-tsb-says-private-equity-firms-sizing-up-takeover-tilt |access-date=2026-03-30 |website=Morningstar}}</ref>
== References == {{Reflist|30em}}
==External links== {{Portal|Companies}} * {{Official website}}
{{Private equity and venture capital}}
{{DEFAULTSORT:Jc Flowers}} Category:Financial services companies established in 2001 Category:Privately held companies based in New York (state) Category:2001 establishments in New York City Category:Private equity firms based in New York (state)