FFL Partners has closed its fifth fund at over $900 million, beating its $750 million target. Kirkland & Ellis LLP served as fund counsel for FFL while Aviditi Advisors acted as placement agent. FFL invests in middle-market companies.
SAN FRANCISCO–(BUSINESS WIRE)–FFL Partners (“FFL”), a private equity firm focused on growth investments in middle market companies, today announced the final closing of FFL Capital Partners V, L.P. and related vehicles (“Fund V”), with over $900 million in total capital commitments. FFL closed the oversubscribed Fund V well above its $750 million target, raising the firm’s total AUM to $5.4 billion. This is the first fund raised following Cas Schneller and Chris Harris being named Managing Partners of the firm.
“We are grateful for the positive response we received from our diverse group of existing and new investors, and we appreciate their confidence in our hyper-specialized, high-engagement strategy within Healthcare and Tech-Enabled Services,” said Cas Schneller, Managing Partner at FFL.
“Our team is excited about the six platform investments we have already made in Fund V, all of which are representative of our strategy,” said Chris Harris, Managing Partner at FFL. “As we deploy the rest of the fund, we look forward to partnering with additional founders, owners, and leadership teams to help them scale, enhance operations, and build strong, profitable middle market businesses.”
Similar to FFL’s prior funds, Fund V will continue to make equity investments ranging from $50 million to $200 million in control or significant minority stake transactions, with the ability to participate in larger transactions in select circumstances. The firm’s Sector Exploration and Expertise Development (“SEED”) process provides differentiated angles within competitive processes and can generate proprietary opportunities, while the firm’s team of seven Operating Partners engages deeply with portfolio companies to accelerate growth post-investment.
FFL has been actively deploying capital from Fund V, investing in platform businesses that include Velocity Global, New Look Vision Group, One Senior Care, Community Medical Services, Optomi Professional Services and, most recently, Perlman Clinic. The firm strives to invest in market-leading companies that have strong and defensible competitive positions, good growth prospects, muted cyclicality, and strong management teams.
Kirkland & Ellis LLP served as fund counsel for FFL and Aviditi Advisors acted as placement agent.
About FFL Partners
FFL Partners is a leading middle-market private equity firm that has been investing in high-quality companies since 1997. Based in San Francisco, FFL is a hyperspecialized, thematic investor focused on targeted areas within Healthcare and Tech-Enabled Services, two complementary sectors in which the firm has deep expertise and broad networks. FFL employs a proprietary sourcing and value creation strategy called the Sector Exploration and Expertise Development (“SEED”) process. The firm aims to partner with exceptional management teams and employs a high-engagement approach to accelerate growth at its businesses. FFL currently has over $5 billion of cumulative capital commitments. For additional information, please visit www.fflpartners.com.