Flexstone Partners Acquires Glouston Capital to Build $15B Platform

The merger brings together two firms with minimal geographic overlap, allowing Flexstone to scale its presence in the U.S. middle market. Under the terms of the agreement, the six partners at Glouston will join the Flexstone leadership team, maintaining their operational base in Boston to ensure continuity for their existing fund structures and mandates. Both firms will retain their current investment teams, with Glouston’s secondary strategy team integrating with Flexstone’s existing professionals to oversee the combined platform's secondary activities.

Eric Deram, CEO of Flexstone, noted that the acquisition aligns with the firm’s growth strategy and commitment to disciplined, middle-market execution. Philippe Setbon, CEO of Natixis Investment Managers, stated that the integration serves as a key pillar in the parent company's long-term plan for private asset expansion. Post-transaction, Glouston’s strategies will be rebranded under the Flexstone name, while the combined entity will operate across five global offices, including New York, Paris, Geneva, and Singapore, supported by a workforce of 37 investment professionals.