Francisco Partners has successfully closed its third opportunistic credit fund, FP Credit Partners III LP, raising $3.3 billion—well above its initial target of $2.3 billion. The Kirkland & Ellis LLP-advised private equity firm announced the oversubscribed fund on Thursday, noting that it exceeded its predecessor by over $1 billion.
The firm, known for its technology-focused investments, launched its credit platform in 2018 to provide growth and strategic financing solutions for innovative companies.
A Milestone for Francisco Partners
The new fund represents a significant milestone for Francisco Partners’ credit platform. FP Credit Partners III LP follows the success of FP Credit Partners II LP, which closed at $2.2 billion in October 2021.
“Since we launched our credit business in 2018, FP Credit has been a partner of choice for technology-driven businesses,” said Scott Eisenberg, the firm’s head of credit and structured solutions. “Our differentiated and flexible approach allows us to creatively structure credit and hybrid capital to meet specific company needs.”
