Chicago-based Flexpoint Ford LLC, a private equity firm that targets the financial services and healthcare industries, has raised $2 billion across two funds. Flexpoint Fund IV raised $1.5 billion while Overage Fund IV raised $500 million. Kirkland & Ellis LLP provided legal counsel for both funds. No placement agent was used.
CHICAGO, July 8, 2019 /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 fourth private equity fund, Flexpoint Fund IV, L.P. (“Fund IV”), along with a companion fund, Flexpoint Overage Fund IV, L.P. (“Overage Fund IV”). Total committed capital between the Funds is $2.0 billion, with $1.5 billion in Fund IV and $500 million in Overage Fund IV. Overage Fund IV is intended to invest alongside Fund IV in larger transactions.
Fund IV plans to continue the strategy established in predecessor funds, investing in majority and minority equity stakes in financial services and healthcare companies, utilizing Flexpoint Ford’s demonstrated proprietary sourcing, execution and operating capabilities.
“We are delighted with the success of the fundraising for Fund IV,” said Don Edwards, Chief Executive Officer of Flexpoint Ford. Noting that approximately 85% of the new funds’ commitments came from existing investors in what was a limited fundraising process, he added, “We are very fortunate to have the support of many of the leading limited partners in the investment community. We attribute this support to the outstanding investment returns of our prior funds and, importantly, the consistent execution of the Flexpoint strategy.”
Flexpoint Ford is uniquely flexible with respect to investment size, structure and asset class. Fund IV and Overage Fund IV will invest from $50 million to $500 million in a single transaction. Flexpoint Ford’s experience includes investments in minority and majority structures in both private and public companies, and in a wide range of transaction types, including buyouts, growth investments and turnarounds.
Kirkland & Ellis LLP served as legal counsel for Fund IV and Overage Fund IV. Flexpoint Ford did not use a placement agent.
About Flexpoint Ford
Flexpoint Ford is a private equity investment firm that has raised more than $4.3 billion in capital and specializes in privately negotiated investments in the healthcare and financial services industries. Since the firm’s formation in 2005, Flexpoint Ford has completed investments in more than 30 companies across a broad range of investment sizes, structures and asset classes. Flexpoint Ford is headquartered in Chicago, Illinois. For more information about Flexpoint Ford, please visit www.flexpointford.com.