Flexstone Partners, the private markets investment manager and affiliate of Natixis Investment Managers, has completed its acquisition of Boston-based private equity secondaries specialist Glouston Capital Partners.
The transaction expands Flexstone’s capabilities in the secondary market and takes the firm’s assets under management to more than $15bn across primary, co-investment and secondary private equity strategies.
The combination strengthens Flexstone’s presence in the North American middle-market secondaries segment, while adding Glouston’s established network of relationships across the private equity industry. The enlarged platform will serve institutional investors across North America, Europe and Asia.
Glouston’s investment team has joined Flexstone and will continue operating from Boston. The team and investment strategy will remain unchanged, with Glouston’s existing strategies being rebranded under the Flexstone Partners name.
Existing fund structures, limited partner agreements and investment mandates will remain in place, providing continuity for Glouston’s investors and investment partners.
As part of the transaction, Glouston’s six partners have become Managing Partners of Flexstone, strengthening alignment across the combined business.
The enlarged investment platform now comprises 37 professionals working across New York, Boston, Paris, Geneva and Singapore.
Glouston has specialised in North American buyout middle-market secondaries since 1994, investing more than $2.9bn across 290 secondary transactions on behalf of institutional investors.
