Francisco Partners (FP), a prominent global investment firm specializing in technology, has announced the successful final closing of FP Credit Partners III, L.P., an opportunistic credit fund reaching $3.3 billion. This fund, exceeding its initial target of $2.3 billion after being oversubscribed, follows the $2.2 billion FP Credit Partners II, L.P., marking a significant expansion of Francisco Partners’ credit investment platform.
Building upon the strategy of its predecessor funds, FP Credit Partners III will leverage Francisco Partners’ extensive expertise in the technology sector. The fund is set to invest across a spectrum of opportunities, from traditional credit financings to adaptable capital solutions, catering to the evolving needs of technology-driven businesses.
Scott Eisenberg, Head of Credit and Structured Solutions at Francisco Partners, stated, “Since initiating our credit business in 2018, FP Credit has become a preferred partner for technology businesses seeking growth and strategic financial solutions. Our unique and flexible approach enables us to innovatively structure credit and hybrid capital, specifically designed to meet the distinct requirements of each company.” Eisenberg further emphasized, “Our team prides itself on being a ‘one-stop’ destination, offering partnership capital that aligns with the objectives of existing management and owners. As the demand for our capital approach increases, we are eager to collaborate with more groundbreaking and vital companies.”
FP’s credit platform has a diverse portfolio, including partnerships with companies like Zotec Partners, a leader in revenue cycle management (RCM) solutions for physician practices and hospitals; Zocdoc, a premier online healthcare platform for discovery and appointment booking; and Eventbrite (NYSE: EB), a well-known self-service event ticketing and technology platform, among numerous others.
Dipanjan “DJ” Deb, Co-Founder and CEO of Francisco Partners, commented, “Adopting a ‘one firm’ approach and integrating credit and structuring expertise with our private equity platform has broadened Francisco Partners’ influence within the technology ecosystem. With FP Credit Partners III, we are enthusiastic about continuing our opportunistic investments and supporting businesses across our credit strategies.” Deb also expressed gratitude, “We deeply value the confidence and backing of both our new and long-term limited partners. We recognize that each new fund commitment requires us to re-earn their trust, and we are committed to diligently deploying this capital effectively.”
The limited partners in Francisco Partners’ funds represent a diverse global investor base, spanning North and South America, Europe, Asia, and the Middle East. This includes a mix of public and corporate pension funds, foundations, endowments, insurance companies, sovereign wealth funds, and family offices.
Kirkland & Ellis LLP provided legal counsel for FP Credit Partners III.
About Francisco Partners
Francisco Partners is a leading global private equity firm that partners with technology and technology-enabled businesses. Launched 25 years ago, Francisco Partners has invested in over 450 technology companies, establishing itself as one of the most active and long-tenured investors within the technology sector. With over $50 billion in capital raised to date, the firm focuses on opportunities where its in-depth sector knowledge and operational expertise can assist companies in achieving their maximum potential. For additional information about Francisco Partners, please visit www.franciscopartners.com.
Contacts
Francisco Partners
Whit Clay
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