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Matthias Knab, Opalesque: American investment firm Francisco Partners closed its latest private-credit fund with $3.3 billion in investor commitments, exceeding its $2.3 billion target despite a difficult fundraising market.
The opportunistic lending vehicle FP Credit Partners III fund surpassed its predecessor fund, which closed at $2.2bn in 2021, according to a media release from the tech-focused private equity investment major.
Francisco Partners' limited partners include both new and existing investors across North and South America, Europe, Asia, and the Middle East and include public and corporate pension funds, foundations, endowments, insurance companies, sovereign wealth funds, and family offices.
Notable contributions include $125m each from the State of Wisconsin Investment Board and the Teachers' Retirement System of Louisiana, $100m from the California State Teachers' Retirement System, and $500m from the New York State Common Retirement Fund via aggregated and co-investment vehicles.
Dipanjan "DJ" Deb, Co-Founder and CEO of Francisco Partners said: "We greatly appreciate the trust and support of our new and long-term limited partners. We know that with each new fund commitment, we must prove ourselves again, and we will work tirelessly to effectively deploy this capital."
"Taking a "one firm" approach and incorporating credit and structuring expertise alongside our private equity platform has broadened Francisco Partners' reach in the technolo...................... To view our full article Click here
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