Francisco Partners Announces Strategic Minority Investment by Blackstone and Goldman Sachs Asset Management
July 13 2018 - 9:00AM
Business Wire
Francisco Partners, a leading technology-focused private equity
firm, announced that Blackstone’s (NYSE: BX) Strategic Capital
Group and Goldman Sachs Asset Management’s Petershill program
(“Petershill”) (NYSE:GS) have acquired a minority stake in
Francisco Partners. The investment provides Francisco Partners with
balance-sheet capital to continue to develop its strong platform
while increasing commitments to its own funds, strengthening its
alignment with limited partners. Terms of the transaction were not
disclosed.
Dipanjan “DJ” Deb, Co-founder and CEO of Francisco Partners,
said, “Since our inception, we have always prided ourselves on the
strength of our relationships. We have the opportunity to work with
great management teams who create solutions across all sectors of
technology. We have incredible limited partners and now we are
proud to bring on two strategic partners in Blackstone and Goldman
Sachs to help us continue to grow our platform so that we can build
on the success of the past 20 years. We are excited about the
opportunities ahead of us and welcome the resources and expertise
that these firms bring to FP.”
Scott Soussa, Head of Blackstone Alternative Asset Management’s
Strategic Capital Group which specializes in acquiring long-term
interests in alternative managers, said, “Francisco Partners is
driven by a talented investing team with deep industry expertise.
For nearly two decades, the team has stood out as a leading partner
to businesses in the technology sector and we, alongside
Petershill, are proud to support their continued growth.”
Robert Hamilton Kelly, Managing Director in the AIMS Group at
Goldman Sachs Asset Management, said, “We look to partner with
differentiated businesses with their best years ahead of them, and
we believe Francisco Partners is a perfect example of such a firm.
They have a well-deserved reputation for thoughtful investment and
strategic operational execution across the technology space.”
Michael Brandmeyer, co-CIO of the AIMS Group at Goldman Sachs
Asset Management, said “The Francisco Partners team is impressive
and we appreciate the commitment and continuity of the
organization. We, together with Blackstone, look forward to
supporting the firm’s development and believe in its continued
success.”
Evercore served as financial advisor to Francisco Partners.
Kirkland & Ellis LLP served as legal counsel to Francisco
Partners, Simpson Thacher served as legal counsel to Blackstone and
Fried Frank served as legal counsel to Goldman Sachs.
About Francisco Partners
Francisco Partners is a leading global private equity firm that
specializes in investments in technology and technology-enabled
services businesses. Since its launch over 18 years ago, Francisco
Partners has raised over $14 billion in capital and invested in
more than 200 technology companies, making it one of the most
active and longstanding investors in the technology industry. The
firm invests in opportunities 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.
About Blackstone Alternative Asset Management
Blackstone Alternative Asset Management (BAAM®), Blackstone’s
Hedge Fund Solutions platform, is the world’s largest discretionary
investor in hedge funds, with approximately $79 billion in assets
under management. BAAM manages a diversified set of businesses
including a customized solutions business, a special situations
platform, a hedge fund seeding business, an open-ended mutual fund
platform and a business that purchases stakes in established
alternative asset managers. In all of BAAM’s business lines, it
carefully selects and partners with fund managers across a variety
of asset classes and strategies to create solutions for its
investors. Through its sharp focus on clients’ goals, a rigorous
due-diligence process and access to Blackstone’s global insights,
BAAM strives to generate attractive risk-adjusted returns across
market cycles while preserving capital during stressed market
environments.
About the Goldman Sachs Asset Management AIMS Group
The Alternative Investments & Manager Selection (AIMS) Group
provides investors with investment and advisory solutions across
leading private equity funds, hedge fund managers, real estate
managers, public equity strategies and fixed income strategies.
Institutional and individual investors access these opportunities
through new fund commitments, multi-manager programs, strategic
partnerships, secondary-market investments, co-investments,
management-company stakes, and seed-capital investments. The
Petershill Strategies are a part of the AIMS Group, which manages
over $200 billion, providing manager diligence, portfolio
construction, risk management, and liquidity solutions to investors
around the world.
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version on businesswire.com: https://www.businesswire.com/news/home/20180713005193/en/
Francisco PartnersJohn Moore, +1
215-657-4971john.moore@zenogroup.comBlackstonePaula Chirhart, +1
212-583-5263paula.chirhart@blackstone.comGoldman SachsPatrick
Scanlan, +1 212-902-5400
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