Simpson, Kirkland Advise Ferrer Freeman/Morgan Stanley
Ferrer Freeman & Company announced that it partnered with Morgan Stanley Alternative Investment Partners to complete a secondary purchase and extension of FFC Partners III, a 2004 vintage fund with $400 million in original commitments and five active investments. Simpson Thacher & Bartlett and Sixpoint Partners represented FFC; Kirkland & Ellis represented Morgan Stanley.
Jonathan Costello, senior portfolio manager for the Morgan Stanley AIP Private Equity Secondary Team, said, “We are pleased to partner with FFC and to invest in a portfolio of companies that we believe are well positioned to create significant value during the remaining life of Fund III. The team at FFC has extensive experience in healthcare-focused private equity investments and is an excellent example of the type of specialist, middle market manager that we seek to invest in.”
David Freeman, co-founder and partner of FFC, said, “We are pleased to have executed on an innovative transaction that provided Fund III limited partners with the opportunity to either receive liquidity or participate in the extension of Fund III. We thank all of our investors and our limited partner advisory committee for their cooperation and support in completing this transaction. We are also excited to begin a relationship with Morgan Stanley AIP, one of the world’s most respected institutional investors in private equity. Morgan Stanley AIP has significant experience in secondary transactions and private equity investing and we look forward to a long-term relationship with them.”