Financial services and healthcare investor Flexpoint Ford has closed on nearly $1.3 billion of new capital with closings of its third private equity fund, Flexpoint Fund III, LP (Fund III) at $950 million and Flexpoint Special Assets Fund, LP at $317 million. The firm had targeted $750 million for Fund III and $250 million for the Special Assets Fund.
As with earlier funds, Fund III will make both control and non-control investments in financial services and healthcare companies. In addition, the Special Assets Fund provides the firm with the ability to invest directly or indirectly in pools of financial assets such as loans, leases, books of insurance and other assets associated with financial services companies.
According to Don Edwards, Chief Executive Officer of Flexpoint Ford, 90% of the new funds’ commitments came from existing investors and fundraising was completed in three months. “We are delighted with the success of the fundraising for Fund III and the Special Assets Fund. We are very fortunate to have the support of some of the leading limited partners in the investment community.”
Flexpoint Ford seeks to invest from $10 million to $100 million in companies operating in the healthcare and financial services sectors and has the ability to invest up to $200 million in a single transaction. The firm currently has $2 billion in capital under management. Flexpoint Ford was founded in 2005 and is based in Chicago with an additional office in New York (www.flexpointford.com).
Kirkland & Ellis served as legal counsel for Fund III and the Special Assets Fund.
© 2015 PEPD • Private Equity’s Leading News Magazine • 8-12-15