Francisco Partners (FP) today announced the final closing of FP Credit Partners III, L.P., a $3.3 billion opportunistic credit fund. The Fund follows FP Credit Partners II, L.P., a $2.2 billion predecessor fund. It was oversubscribed and exceeded target fund size of $2.3 billion.
Consistent with the prior two funds, FP Credit Partners III will seek to leverage the deep sectoral expertise of the broader FP platform and invest in a variety of structures ranging from traditional credit financings to flexible capital solutions.
"Since we launched our credit business in 2018,FP Credit has been a partner of choice for technology-driven businesses seeking growth and strategic financing solutions. Our differentiated and flexible approach to each situation allows us to creatively structure credit and hybrid capital designed to meet the specific needs of companies," said Scott Eisenberg, Head of Credit and Structured Solutions at Francisco Partners. "Our team prides itself as a "one-stop" destination focused on partnership capital that aligns with the goals and expectations of existing management and owners. As the demand for our form of capital grows, we look forward to partnering with more innovative and important companies."
Through its credit platform, FP has partnered with a diverse list of companies that includes Zotec Partners, a provider of comprehensive RCM solutions for hospital and office-based physician practices, Zocdoc, a leader in online healthcare discovery and appointment booking, Eventbrite (NYSE: EB), a self-service event ticketing and experience technology platform, and many others.
"Taking a "one firm" approach and incorporating credit and structuring expertise alongside our private equity platform has broadened Francisco Partners' reach in the technology ecosystem. With FP Credit Partners III, we are excited to continue to invest opportunistically and support businesses across our credit strategies," said Dipanjan "DJ" Deb, Co-Founder and CEO of Francisco Partners. "We greatly appreciate the trust and support of our new and long-term limited partners. We know that with each new fund commitment we must prove ourselves again, and we will work tirelessly to effectively deploy this capital."
Francisco Partners' limited partners include both new and existing investors across North and South America, Europe, Asia, and the Middle East and includes public and corporate pension funds, foundations, endowments, insurance companies, sovereign wealth funds and family offices.
Kirkland Ellis LLP served as legal advisor on FP Credit Partners III.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch 25 years ago, Francisco Partners has invested in over 450 technology companies, making it one of the most active and longstanding investors in the technology industry. With over $50 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.
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Contacts:
Francisco Partners
Whit Clay
wclay@sloanepr.com
