Francisco Partners holds final closing of USD2.2bn second credit fund

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Technology investment firm Francisco Partners has held the final closing of FP Credit Partners II, a USD2.2 billion opportunistic credit fund focused on the broad and increasingly diverse technology market. 

The Fund’s total capital commitments reached its hard cap and exceeded its original USD1.25 billion target.

FP Credit Partners II will look to deploy capital across a wide array of situations ranging from supporting growth initiatives and traditional M&A activity to assisting with business model transitions and solving short-term liquidity needs.

“We are seeing growing demand for capital from companies that are seeking partners who are able to provide customised and scalable solutions, often as an alternative to dilutive or restrictive minority equity,” says Scott Eisenberg, Head of Credit and Structured Solutions at Francisco Partners.

Through its credit platform, Francisco Partners has partnered with a diverse list of companies that includes Zocdoc, the country’s leading digital healthcare marketplace; Eventbrite (NYSE:EB), a global self-service ticketing and experience technology platform; Talentsoft, a European-based human capital management software company; Spire Global (NYSE:SPIR), a leading global provider of space-based data and analytics, and many others.

“Technology is no longer a standalone sector. It is disrupting every industry and market, and we believe there is an incredible opportunity to support this growth across a range of financing needs,” says Dipanjan “DJ” Deb, Co-Founder and CEO of Francisco Partners. “With FP Credit Partners II, we can offer our LPs an attractive risk-return investment profile, and we are grateful to all of our new and longtime limited partners who chose to invest with us.”

“We meet unbelievable entrepreneurs and companies every day,” adds Eisenberg. “Through our flexible solutions, we not only offer them access to capital, but also to the deep institutional knowledge of our platform, which has partnered with hundreds of technology companies over more than two decades.”

Francisco Partners’ limited partners include both new and existing investors across North and South America, Europe and Asia and include public and corporate pension funds, foundations, endowments, insurance companies, sovereign wealth funds and family offices. Notably, all institutional investors from Francisco Partners’ first credit fund participated in FP Credit Partners II.

Simpson Thacher & Bartlett served as legal advisor on FP Credit Partners II.

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