Private equity firms Genstar Capital and Aquiline Capital Partners announced the completion of the previously announced acquisition of Ascensus from J.C. Flowers. Terms of the transaction were not disclosed.

Ascensus, an independent service provider of retirement and college savings plans, was founded more than 30 years ago. It offers a comprehensive suite of defined contribution and defined benefit retirement plan solutions, benefits education, 529 college savings plan recordkeeping and IRA and health savings account administration.

New York-based Aquiline invests in middle-market businesses across the financial services sector.

San Francisco-based Genstar Capital has been actively investing in high quality companies for more than 20 years.