FTV Capital Announces Strategic Investment from Blackstone GP Stakes
NEW YORK – May 3, 2023 – FTV Capital (“FTV”) and Blackstone announced today that funds managed by Blackstone GP Stakes have made a minority investment in FTV. FTV has a 25-year track record of investing in innovative, high-growth companies across the enterprise technology, financial services and payments landscapes and will benefit from this new partnership with one of the world’s leading investment firms. Blackstone GP Stakes specializes in value-added, long-term investments in the management companies of leading private equity firms, making available a wide range of proprietary Blackstone resources to help these firms realize their ambitions.
Mustafa M. Siddiqui, Head of Blackstone GP Stakes, said: “FTV’s terrific track record derives from its investment focus at the intersection of financial services and technology, a proactive deal sourcing program leveraging proprietary software, a Global Partner Network® that provides insight and access into the firm’s end markets, and specialist operating expertise within the FTV Propel® team. We are impressed by the entrepreneurial culture the FTV partners have built over more than two decades. FTV has established an impressive franchise with strong momentum, and we’re excited to contribute to the next chapter of the firm’s story.”
Brad Bernstein, Managing Partner at FTV, said: “Blackstone is one of the most respected alternative investment firms and their commitment validates the differentiated platform we have worked tirelessly to build over 25 years. We are excited about the significant strategic resources and know-how that FTV will leverage to continue to serve our limited partners and entrepreneurs. The Blackstone investment will enable us to invest in our firm and successfully continue our growth journey, as well as increase commitments to our funds, strengthening alignment with limited partners.”
Ward Young, Senior Managing Director at Blackstone, added: “FTV’s focus on discipline and domain expertise is a great fit for the current market environment, and we believe their opportunity set continues to grow. The firm fits our vision for differentiated GPs with an enduring edge – GPs that have developed outstanding platforms and delivered strong results. We are excited to see FTV continue to deliver for its limited partners in the coming years.”
FTV brings a flexible approach and seeks to make control and significant minority equity investments, often as the first institutional investor, generally ranging from $30 to $200 million that align with the objectives of company management teams to accelerate growth and expansion. The firm’s most recent fund, FTV VII, closed in early 2022 with $2.35 billion in capital commitments and was oversubscribed. FTV has raised $6.2 billion, invested over $4.8 billion in 137 portfolio companies and realized $6.3 billion since the firm was founded in 1998. The firm is celebrating its 25th anniversary this year.
Evercore served as financial advisor to FTV. Kirkland & Ellis served as legal advisor to FTV and Fried Frank served as legal advisor to Blackstone.
About FTV Capital
FTV Capital is a sector-focused growth equity investment firm that has raised $6.2 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology and services, financial services, and payments and transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in 137 portfolio companies. FTV has offices in San Francisco, New York and Connecticut. For more information, please visit www.ftvcapital.com and follow the firm on LinkedIn.
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $991 billion in assets under management include investment vehicles focused on private equity, real estate, private and liquid credit, infrastructure, life sciences, growth equity, public securities and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.
Prosek Partners on behalf of FTV Capital