Seller Details:
Glouston Capital Partners (“Glouston”) is a Boston-based private equity secondaries manager with over $3.4 billion in AUM, focused on the North American buyout middle market. Since 1994, the firm has invested more than $2.9 billion across 290 secondary transactions, serving a diverse institutional client base with a disciplined, relationship-driven investment approach.
Buyer Details:
Flexstone Partners (“Flexstone”) is an affiliate of Natixis Investment Managers (“Natixis”). The company manages more than $11.9 billion in assets and provides institutional investors around the world with tailored private equity investment and advisory services. Flexstone’s fund-of-funds, co-investment and secondary market strategies primarily focus on small and midcap segments, growth equity and emerging managers in the United States, Europe and Asia. With more than 65 experts based in New York, Paris, Geneva and Singapore, Flexstone’s international team meets the needs of its clients around the world. Made up of a team of specialists with complementary profiles, Flexstone benefits from their in-depth market knowledge as well as unique expertise in private equity. It is present in the most promising markets of North America, Europe and Asia.
Natixis Investment Managers’ multi-affiliate approach connects clients to the independent thinking and focused expertise of more than 15 active managers. Ranked among the world’s largest asset managers with more than $1.4 trillion assets under management (€1.2 trillion), Natixis Investment Managers specializes in high-conviction active investment strategies, insurance and pension solutions, and private assets, and delivers a diverse offering across asset classes, styles, and vehicles.
Transaction Summary:
Flexstone has agreed to acquire Glouston where the combined platform will manage more than $15 billion in assets across Primary, Co-Investment, and Secondary strategies, serving institutional investors across North America, Europe, and Asia.
Flexstone’s investment and management teams will remain intact, ensuring continuity for clients while adding strong middle‑market secondaries expertise. Glouston’s investment strategy and investment team will also remain intact following the closing of the transaction. The six Glouston partners will continue to manage the secondary business from Boston, applying the same investment process and criteria that have defined the firm’s investment strategy.
As part of the transaction, Glouston’s partners will roll a substantial portion of their equity into the combined firm and will become Managing Partners of Flexstone, ensuring meaningful alignment of interest. Flexstone partners will also invest additional equity alongside Glouston’s team.