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Alternative Market Briefing

Francisco Partners raises $10bn with three tech funds

Thursday, June 04, 2020

Laxman Pai, Opalesque Asia:

Francisco Partners has raised nearly $10 billion across three funds to invest in technology companies, one of the largest pools of capital collected by a U.S. private-equity firm this year.

The three oversubscribed technology-focused alternative investment funds with a combined $9.7 billion are the $7.45 billion Francisco Partners VI, $1.5 billion Francisco Partners Agility II and $750 million FP Credit Partners.

Francisco Partners VI is a buyout fund, while Agility II is a growth equity fund and FP Credit is an opportunistic credit fund.

Francisco Partners VI LP exceeded its $5.5bn target, said Dipanjan Deb, a co-founder and chief executive of the firm. It is Francisco's largest fund to date.

The nearly $10bn haul demonstrates investors' continued appetite for private equity as an asset class, despite the impact of the coronavirus pandemic on the wider economy, including companies backed by buyout firms.

Investors in Francisco Partners Fund VI include New York State Common Retirement Fund, Albany; Oregon Public Employees Retirement Fund, Tigard; Nebraska Investment Council, Lincoln; Oklahoma Police Pension & Retirement System, Oklahoma City; and University of Houston.

Investors in Francisco Partners Agility II include Oregon Public Employees Retirement Fund, Oklahoma Police Pension & Retirement System and the Ohio State Teachers Retirement System, Columbus.

In its 20-year history, FP has invested in or acquired more ......................

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