Flexpoint Ford, LLC, a Chicago and New York-based private equity investment firm specializing in the financial services and healthcare industries, closed two funds with total commitments of $1.267 billion.
Flexpoint Fund III, L.P., closed at $950m, while the new investment vehicle Flexpoint Special Assets Fund, L.P. (“Special Assets Fund”) raised $317m.
Fund III plans to invest in minority and majority equity stakes in financial services and healthcare companies. It can invest up to $200m in a single transaction, and has the ability to invest in larger transactions with the support of its limited partners.
The Special Assets Fund will invest in financial assets such as loans, leases, books of insurance and other assets associated with financial services companies.
Led by Don Edwards, Chief Executive Officer, Flexpoint Ford has over $2 billion under management. Since its formation in 2005, the firm has invested in more than 25 companies across a broad range of sizes, structures and asset classes.
Kirkland & Ellis LLP served as legal counsel for Fund III and the Special Assets Fund.