Oct. 3, 2022: PE Investors Fuel Funding for Human Capital Solutions

Read the top headlines from Monday, October 3, 2022 below:

Fort Point Capital Closes Third Fund

Fort Point Capital recently announced the close of its third private equity investment fund, FPC Small Cap Fund III and FPC Small Cap Fund III-A. The firm secured $340 million in capital commitments since it began fundraising last March; Fort Point had initially targeted $250 million. In its announcement, the firm said it will use the funds to continue to invest in the lower-middle market across business services. So far, Fort Point has acquired 13 platform companies with an additional 21 add-on acquisitions.

Century Equity Partners, Vistria Group Invests in Employee Benefits Technology

Lower-middle market private equity firm Century Equity Partners, along with private investment firm The Vistria Group, have announced their joint investment in employee benefits technology provider Flores & Associates. Flores provides employer-sponsored reimbursement plans and a suite of integrated benefits solutions for employers. As a result of the agreement, Century and Vistria will each hold equal stakes in the business, which will retain its management and leadership team.

Flores has already demonstrated growth, having completed seven acquisitions since 2021, the announcement noted. The announcement pointed to “the rising cost of healthcare, the growing demand from employees for more benefits options, better decision support and ease of use, as well as the responsibility for benefits election increasingly borne by employees” as key drivers demanding new solutions for employers and employees in this space.

Caymus Acquires IT Staffing Company

Lower-middle market private equity firm Caymus Equity Partners announced the acquisition of Seneca Resources, an IT staffing company, in a recent press release. The investment marks Caymus’ third staffing investment, it said, and its second staffing investment from its Caymus Equity Partners Fund II.

“With the digitization of the global economy and the remarkable growth that the IT staffing industry has experienced as a result, Seneca presented us with an opportunity to leverage our experience and existing relationships in the industry,” stated Caymus principal and investment-lead Blake Cummings in a statement.

Related content: Operational Excellence Series Pt. 4: A Proactive Approach to Human Capital