Flexpoint Ford LLC said Tuesday that its third private equity fund closed at $950 million, surpassing its target of $750 million. A new investment vehicle, Flexpoint Special Assets Fund LP, collected $317 million, more than its $250 million target. Flexpoint Fund III LP will invest in minority and majority equity stakes in financial services and healthcare companies. The Special Assets Fund will invest in loans, leases, books of insurance and other assets associated with financial services companies.
CHICAGO, Aug. 11, 2015 /PRNewswire/ — Flexpoint Ford, LLC a private equity investment firm specializing in the financial services and healthcare industries, announced today the first and final closing of its third private equity fund, Flexpoint Fund III, L.P. (“Fund III”) at $950 million, along with a new investment vehicle, Flexpoint Special Assets Fund, L.P. (“Special Assets Fund”) at $317 million. The initial targets for the funds were $750 million and $250 million, respectively.
Fund III plans to invest in minority and majority equity stakes in financial services and healthcare companies, utilizing 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,” said Don Edwards, Chief Executive Officer of Flexpoint Ford. Noting that 90% of the new funds’ commitments came from existing investors in what was only a three month fundraising process, he added, “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 $200 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.
Kirkland & Ellis LLP served as legal counsel for Fund III and the Special Assets Fund.
About Flexpoint Ford
With offices in Chicago and New York, Flexpoint Ford is a private equity investment firm with over $2 billion under management, specializing in privately negotiated investments in the financial services and healthcare industries. Since the firm’s formation in 2005, Flexpoint Ford has invested in more than 25 companies across a broad range of sizes, structures and asset classes. For more information, please visit www.flexpointford.com.