Flexstone Partners, the private markets affiliate of Natixis Investment Managers, has agreed to acquire Boston-based Glouston Capital Partners, creating a global private equity platform with more than $15 billion in assets under management across North America, Europe, and Asia.  

Expertise in North American Private Equity Secondaries

The transaction combines Flexstone’s primary fund and co-investment capabilities with Glouston’s established expertise in North American private equity secondaries. The merged platform will offer institutional investors a broader range of investment solutions spanning private equity, private debt, infrastructure, and real estate.  

Glouston manages more than $3.4 billion in assets and specializes in middle-market secondary transactions in North America. Since its founding, the firm has invested more than $2.9 billion across approximately 290 secondary transactions. Flexstone contributes roughly $12 billion in assets under management to the combined business.  

Riding the Growth of Private Assets

The acquisition comes as institutional demand for private market investments continues to accelerate. Philippe Setbon, CEO of Natixis Investment Managers, described private assets as a core pillar of the group’s long-term growth strategy. He said the combination of Flexstone’s global platform and Glouston’s differentiated middle-market secondary expertise positions the business to benefit from one of the fastest-growing segments within private markets.  

Upon completion of the transaction, Glouston’s six partners will join Flexstone as Managing Partners. Both Glouston and Flexstone partners will also contribute additional equity capital to the combined firm. Financial terms of the deal were not disclosed.  

The enlarged platform will operate with 37 investment professionals across offices in New York, Boston, Paris, Geneva, and Singapore. Existing fund structures, limited partner agreements, and investment mandates will remain unchanged following the rebranding under the Flexstone Partners name.