Francisco Partners collects nearly $10B from LPs

Francisco Partners has raised just shy of $10 billion across a trio of new funds, including a $7.45 billion flagship effort that is the third-largest buyout fund closed in the US so far in 2020, according to PitchBook data. The San Francisco-based firm’s other two new funds are a $1.5 billion vehicle focused on smaller tech deals and a $750 million debut credit fund.

Francisco Partners closed its previous flagship fund on about $4 billion in 2017.

Investors have only closed 86 private equity funds in the US so far this year, according to PitchBook data, a far cry from the 320 such vehicles that were closed in 2019 and a symptom of how the coronavirus crisis has slowed down many aspects of the private markets. This year’s funds have so far raised a total of $94.6 billion, also on pace for a decline from last year’s decade-high of $310.4 billion.

Source: Pitchbook

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