Private equity firm Flexpoint Ford has held the first and final closing of its third private equity fund, Flexpoint Fund III at USD950 million, along with a new investment vehicle, Flexpoint Special Assets Fund at USD317 million.
The initial targets for the funds were USD750 million and USD250 million, respectively.
Fund III plans to invest in minority and majority equity stakes in financial services and healthcare companies, utilising Flexpoint Ford's demonstrated proprietary sourcing and operating capabilities. The Special Assets Fund will further leverage Flexpoint Ford's existing financial services expertise by investing in financial assets such as loans, leases, books of insurance and other assets associated with financial services companies.
"We are delighted with the success of the fundraising for Fund III and the Special Assets Fund," says Don Edwards, Chief Executive Officer of Flexpoint Ford. Noting that 90 per cent of the new funds' commitments came from existing investors in what was only a three month fundraising process, he says: "We are very fortunate to have the support of some of the leading limited partners in the investment community."
Flexpoint Ford is uniquely flexible with regard to investment size, structure and asset class. Fund III will seek to partner with experienced management teams and invest in the best opportunities in financial services and healthcare companies, regardless of investment size or structure. The Fund can invest up to USD200 million in a single transaction, and has the ability to invest in larger transactions with the support of its limited partners. Flexpoint Ford's experience includes investments in both minority and control structures across private and public companies. With the Special Assets Fund, the Firm also has the ability to invest directly or indirectly in pools of financial assets.
