Francisco Partners Announces Strategic Minority Investment by Blackstone and Goldman Sachs Asset Management

Francisco Partners, a leading technology-focused private equity firm,
announced that Blackstone’s (NYSE: BX) Strategic Capital Group and
Goldman Sachs Asset Management’s Petershill program (“Petershill”)
(NYSE:GS) have acquired a minority stake in Francisco Partners. The
investment provides Francisco Partners with balance-sheet capital to
continue to develop its strong platform while increasing commitments to
its own funds, strengthening its alignment with limited partners. Terms
of the transaction were not disclosed.

Dipanjan “DJ” Deb, Co-founder and CEO of Francisco Partners, said,
“Since our inception, we have always prided ourselves on the strength of
our relationships. We have the opportunity to work with great management
teams who create solutions across all sectors of technology. We have
incredible limited partners and now we are proud to bring on two
strategic partners in Blackstone and Goldman Sachs to help us continue
to grow our platform so that we can build on the success of the past 20
years. We are excited about the opportunities ahead of us and welcome
the resources and expertise that these firms bring to FP.”

Scott Soussa, Head of Blackstone Alternative Asset Management’s
Strategic Capital Group which specializes in acquiring long-term
interests in alternative managers, said, “Francisco Partners is driven
by a talented investing team with deep industry expertise. For nearly
two decades, the team has stood out as a leading partner to businesses
in the technology sector and we, alongside Petershill, are proud to
support their continued growth.”

Robert Hamilton Kelly, Managing Director in the AIMS Group at Goldman
Sachs Asset Management, said, “We look to partner with differentiated
businesses with their best years ahead of them, and we believe Francisco
Partners is a perfect example of such a firm. They have a well-deserved
reputation for thoughtful investment and strategic operational execution
across the technology space.”

Michael Brandmeyer, co-CIO of the AIMS Group at Goldman Sachs Asset
Management, said “The Francisco Partners team is impressive and we
appreciate the commitment and continuity of the organization. We,
together with Blackstone, look forward to supporting the firm’s
development and believe in its continued success.”

Evercore served as financial advisor to Francisco Partners. Kirkland &
Ellis LLP served as legal counsel to Francisco Partners, Simpson Thacher
served as legal counsel to Blackstone and Fried Frank served as legal
counsel to Goldman Sachs.

About Francisco Partners

Francisco Partners is a leading global private equity firm that
specializes in investments in technology and technology-enabled services
businesses. Since its launch over 18 years ago, Francisco Partners has
raised over $14 billion in capital and invested in more than 200
technology companies, making it one of the most active and longstanding
investors in the technology industry. The firm invests in opportunities
its deep sectoral knowledge and operational expertise can help companies
realize their full potential. For more information on Francisco
Partners, please visit www.franciscopartners.com.

About Blackstone Alternative Asset Management

Blackstone Alternative Asset Management (BAAM®), Blackstone’s Hedge Fund
Solutions platform, is the world’s largest discretionary investor in
hedge funds, with approximately $79 billion in assets under management.
BAAM manages a diversified set of businesses including a customized
solutions business, a special situations platform, a hedge fund seeding
business, an open-ended mutual fund platform and a business that
purchases stakes in established alternative asset managers. In all of
BAAM’s business lines, it carefully selects and partners with fund
managers across a variety of asset classes and strategies to create
solutions for its investors. Through its sharp focus on clients’ goals,
a rigorous due-diligence process and access to Blackstone’s global
insights, BAAM strives to generate attractive risk-adjusted returns
across market cycles while preserving capital during stressed market
environments.

About the Goldman Sachs Asset Management AIMS Group

The Alternative Investments & Manager Selection (AIMS) Group provides
investors with investment and advisory solutions across leading private
equity funds, hedge fund managers, real estate managers, public equity
strategies and fixed income strategies. Institutional and individual
investors access these opportunities through new fund commitments,
multi-manager programs, strategic partnerships, secondary-market
investments, co-investments, management-company stakes, and seed-capital
investments. The Petershill Strategies are a part of the AIMS Group,
which manages over $200 billion, providing manager diligence, portfolio
construction, risk management, and liquidity solutions to investors
around the world.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180713005193/en/

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