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Francisco Partners Announces Final Closing of $2.2 Billion Second Credit Fund
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Rhea-AI Summary
Francisco Partners has successfully closed its FP Credit Partners II fund, raising $2.2 billion, surpassing its $1.25 billion target. The fund will provide flexible credit and structured solutions within the technology sector, addressing growth, M&A, and liquidity needs. Notable partnerships include Eventbrite (NYSE:EB) and Spire Global (NYSE:SPIR). Co-Founder Dipanjan Deb emphasized the opportunity in technology's disruption across industries. The fund has attracted a diverse group of investors, including pension funds and family offices.
Positive
Successfully closed FP Credit Partners II at $2.2 billion, exceeding the $1.25 billion target.
Fund aims to provide flexible credit solutions across diverse technology needs.
Strong demand from companies looking for customized capital alternatives.
Established partnerships with notable firms like Eventbrite (NYSE:EB) and Spire Global (NYSE:SPIR).
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None.
Fund seeks to provide a broad array of flexible credit and structured solutions across the technology ecosystem
SAN FRANCISCO & LONDON & NEW YORK--(BUSINESS WIRE)--
Francisco Partners, a leading technology investment firm, today announced the final closing of FP Credit Partners II (“the Fund”), a $2.2 billion opportunistic credit fund focused on the broad and increasingly diverse technology market. The Fund’s total capital commitments reached its hard cap and exceeded its original $1.25 billion target.
FP Credit Partners II will look to deploy capital across a wide array of situations ranging from supporting growth initiatives and traditional M&A activity to assisting with business model transitions and solving short-term liquidity needs.
“We are seeing growing demand for capital from companies that are seeking partners who are able to provide customized and scalable solutions, often as an alternative to dilutive or restrictive minority equity,” said Scott Eisenberg, Head of Credit and Structured Solutions at Francisco Partners.
Through its credit platform, Francisco Partners has partnered with a diverse list of companies that includes Zocdoc, the country’s leading digital healthcare marketplace; Eventbrite (NYSE:EB), a global self-service ticketing and experience technology platform; Talentsoft, a European-based human capital management software company; Spire Global (NYSE:SPIR), a leading global provider of space-based data and analytics, and many others.
“Technology is no longer a standalone sector. It is disrupting every industry and market, and we believe there is an incredible opportunity to support this growth across a range of financing needs,” said Dipanjan “DJ” Deb, Co-Founder and CEO of Francisco Partners. “With FP Credit Partners II, we can offer our LPs an attractive risk-return investment profile, and we are grateful to all of our new and longtime limited partners who chose to invest with us.”
“We meet unbelievable entrepreneurs and companies every day,” added Eisenberg. “Through our flexible solutions, we not only offer them access to capital, but also to the deep institutional knowledge of our platform, which has partnered with hundreds of technology companies over more than two decades.”
Francisco Partners’ limited partners include both new and existing investors across North and South America, Europe and Asia and include public and corporate pension funds, foundations, endowments, insurance companies, sovereign wealth funds and family offices. Notably, all institutional investors from Francisco Partners’ first credit fund participated in FP Credit Partners II.
Simpson Thacher & Bartlett served as legal advisor on FP Credit Partners II.
About Francisco Partners Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $25 billion in assets under management, 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.
