Kirkland Advises Francisco Partners on Closing of $3.3 Billion Third Credit Fund

Kirkland & Ellis advised global investment firm Francisco Partners on the final closing of FP Credit Partners III, L.P., a $3.3 billion opportunistic credit fund. The fund follows FP Credit Partners II, L.P., a $2.2 billion predecessor fund. It was oversubscribed and exceeded the target fund size of $2.3 billion. Consistent with the prior two credit funds, FP Credit Partners III will seek to leverage the deep sectoral expertise of the broader FP platform and invest in a variety of structures ranging from traditional credit financings to flexible capital solutions.

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The Kirkland team included investment funds lawyers Justin Solomon, Michael Lee, Ted McBride, Aura Gilham, Arman Zadeh, Dhruva Krishna, Irene Jeon, Michael Marano, Lauren Au and Joelle Ibrahim; investment funds regulatory lawyers Matt Cohen and Radhika Kshatriya; and tax lawyers Dan Meehan and Michael Alcan.