Two and a half years after closing its first buyout fund,
“The minute they have 75 percent invested they want to have their PPM on people’s desks and just get it out of the way because they don’t want to be capital constrained,” said our source, who speculated that the new fund may be in the market by the end of the first quarter. We were unable to reach any principals at the firm by press time.
Chicago-based Flexpoint Partners invests in health care and financial services companies. The firm deploys equity slugs between $10 million and $100 million per transaction, and usually takes a control stake in growing companies. Donald Edwards, a former principal at buyout shop
In June 2005,
It is unclear how much the firm will shoot for with its next vehicle, but our source believes it could be as low as $400 million or as high as $1 billion. The investor believes that one determining factor will be how active a role Ford takes with the next fund. For its first vehicle, the firm focused on small deals. “Size is the enemy of returns” was the mantra for the fund, according to our source. The firm’s portfolio includes IntegraCare Home Health, a Grapevine, Texas-based provider of home health care services for rural communities, and Norwich Group Inc, a commercial insurance company based in Rosemont, Pa.—J.P.