Blackstone GP Stakes Makes Minority Investment in FTV Capital

Blackstone GP Stakes, a fund managed by Blackstone Inc. that specializes in long-term investments in the management companies of private equity firms, has made a minority investment in FTV Capital, a sector-focused growth equity investment firm.

No financial terms were disclosed.

Led by managing partner Brad Bernstein, FTV Capital invests in companies across enterprise technology, financial services and payments sectors. The firm makes control and minority equity investments, often as the first institutional investor, ranging from $30 million to $200 million.

“FTV has a very differentiated franchise with strong momentum, and we’re excited to contribute to the next chapter of the firm’s story,” said Mustafa M. Siddiqui, Head of Blackstone GP Stakes.

FTV’s most recent fund – FTV VII – closed at an oversubscribed $2.35 billion in early 2022. The firm has raised $6.2 billion, invested over $4.8 billion in 137 portfolio companies and realized $6.3 billion since inception in 1998.

Blackstone has invested in other private market investors such as Leonard Green, GTCR, Great Hill, Francisco Partners and New Mountain Capital.

Evercore served as financial advisor to FTV. Kirkland & Ellis served as legal advisor to FTV and Fried Frank served as legal advisor to Blackstone.