Small and Mid-Market Co-Investment Fund and parallel investment vehicles have closed and will invest in up to 50 companies
PARIS & NEW YORK–(BUSINESS WIRE)–Flexstone Partners has closed another vintage of its small- and middle-market private equity co-investment funds, a significant step for Flexstone flagship investment strategy, despite challenging global markets. A leading asset manager with over US$10 billion assets under management (AUM)2, Flexstone Partners specializes in small and mid-market global private assets and is an affiliate of Natixis Investment Managers, which has more than $1.1 trillion AUM3.
With a focused investment objective to provide increased exposure to high-conviction managers in their core areas of expertise, Flexstone Partners’ Global Opportunities IV will follow the same proven strategy and investment selection process as its predecessor funds, which are performing on or above expectations with significant risk mitigation. The fund is expected to make between 40 to 50 direct co-investments. The final close was held on March 31, 2023.
Eric Deram, Managing Partner at Flexstone Partners, said, “Our latest fund’s close demonstrates strong appetite for Flexstone’s unique small and middle-market co-investing strategy, even during times of global economic uncertainty. Since we started our co-investments fund series in 2008, we’re proud to have been able to generate strong and consistent returns for our investors.”
The offering is backed by long-standing Flexstone Partners’ investors, including institutional investors such as insurance companies, pension funds, financial institutions, asset managers, foundations, and corporations, as well as a significant number of family offices and high net worth individuals. Investors in the new fund span the globe from Asia to Europe to the US. More than 40% of the commitments have been raised from over 65 new business relationships.
“Flexstone has followed a consistent investment philosophy for over 15 years with no strategy drift. This has allowed us to make successful co-investments across various industries with the potential to reap strong and steady returns for our investors,” said Nitin Gupta, Managing Partner at Flexstone Partners.
Flexstone, which targets the small- and mid-market private equity space, has built a legacy of investing in co-investments in the private equity space. Its successful co-investment track-record shows the quality of its deal flow and the strength of its investment selection process. Out of more than 140 co-investments completed since 2008, 60 are fully realized, generating an attractive risk and return performance.
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1 – Global Opportunities IV offering includes a Luxembourg SICAV, several Delaware LPs, and their parallel vehicles. The Global Opportunities IV offering is closed to new commitments.
2 – US$10 billion assets under management as of December 31, 2022.
3 – Assets under management (“AUM”) of current affiliated entities measured as of December 31, 2022 are US$1,151.3 billion (€1,078.8 billion).
About Flexstone Partners
Flexstone Partners (“Flexstone”)1, a majority owned affiliate of Natixis Investment Managers, providing global institutional investors with investment management and advisory services across global private markets. Flexstone manages $10 billion in assets and offers clients bespoke, global private markets solutions through Customized Investment Solutions, and Secondary and Co-Investment funds focused on lower, middle market buyouts, growth equity, and emerging managers in the US, Europe and Asia.
With over 50 professionals based in New York, Paris, Geneva, and Singapore, Flexstone’s global team serves the distinct needs of our clients worldwide. The team has diverse backgrounds, deep market experience, and private markets expertise, and is immersed in the world’s most compelling markets across North America, Europe, and Asia.
Further information: www.flexstonepartners.com
1 – Flexstone is the name that collectively identifies Flexstone and its affiliated entities.
2 – Under certain conditions related to marketing and prospection regulatory requirements specific to each entity.
3 – Source: Flexstone Partners at 31/03/2021. Assets under management and advisory made up of commitments for closed-end private placement funds and sum of Net Asset Value and unfunded commitments otherwise.
About Natixis Investment Managers
Natixis Investment Managers’ multi-affiliate approach connects clients to the independent thinking and focused expertise of more than 15 active managers. Ranked among the world’s largest asset managers1 with more than $1 trillion assets under management2 (€1 trillion), Natixis Investment Managers delivers a diverse range of solutions across asset classes, styles, and vehicles, including innovative environmental, social, and governance (ESG) strategies and products dedicated to advancing sustainable finance. The firm partners with clients in order to understand their unique needs and provide insights and investment solutions tailored to their long-term goals.
Headquartered in Paris and Boston, Natixis Investment Managers is part of the Global Financial Services division of Groupe BPCE, the second-largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks. Natixis Investment Managers’ affiliated investment management firms include AEW; DNCA Investments;3 Dorval Asset Management; Flexstone Partners; Gateway Investment Advisers; Harris Associates; Investors Mutual Limited; Loomis, Sayles & Company; Mirova; MV Credit; Naxicap Partners; Ossiam; Ostrum Asset Management; Seventure Partners; Thematics Asset Management; Vauban Infrastructure Partners; Vaughan Nelson Investment Management; and WCM Investment Management. Additionally, investment solutions are offered through Natixis Investment Managers Solutions and Natixis Advisors, LLC. Not all offerings are available in all jurisdictions. For additional information, please visit Natixis Investment Managers’ website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers.
Natixis Investment Managers’ distribution and service groups include Natixis Distribution, LLC, a limited purpose broker-dealer and the distributor of various U.S. registered investment companies for which advisory services are provided by affiliated firms of Natixis Investment Managers, Natixis Investment Managers S.A. (Luxembourg), Natixis Investment Managers International (France), and their affiliated distribution and service entities in Europe and Asia.
1 – Cerulli Quantitative Update: Global Markets 2022 ranked Natixis Investment Managers as the 18th largest asset manager in the world based on assets under management as of December 31, 2021.
2 – Assets under management (“AUM”) of affiliated entities measured as of December 31, 2022 are $1,151.3 billion (€1,078.8 billion). AUM includes AlphaSimplex Group, LLC ($8.2 billion / €7.7 billion), which was acquired by Virtus Investment Partners, Inc., effective April 1, 2023. AUM, as reported, may include notional assets, assets serviced, gross assets, assets of minority-owned affiliated entities and other types of non-regulatory AUM managed or serviced by firms affiliated with Natixis Investment Managers.
3 – A brand of DNCA Finance.
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Contacts
Press:
Kelly Cameron
+ 1 617-449-2543
Kelly.Cameron@natixis.com
