# FFL Partners: portfolio, investments and team

> FFL Partners is a private equity based in United States. 3 investments on record, latest Apr 2015. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/ffl-partners (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# FFL Partners

Filed with the SEC to raise a fund in Mar 2026, closing $173M. Last cheque observed Apr 2015.

Email

Quiet New fund $173M, Mar 2026 Private equity

Growth Buyout Healthcare Tech-enabled Services

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Cheques on record

**0%** of best year **0** **cheques in 12 months**, 3 on record

Since the last cheque **4227** days **00** hrs **00** min **00** sec

Median round **$50M** Rounds led **0 of 3** Sole investor **3 rounds**

Pitch FFL Partners

## FFL Partners highlights

- 01 3 rounds on record
- 02 Mostly Growth: 100% of its rounds
- 03 Sole investor in 3 rounds, median $50M

## What they do

> FFL Partners is a focused private equity firm specializing in two fast-growing and synergistic sectors: healthcare and tech-enabled services. From their own website

- **Type:** Private equity
- **Cheque size:** Not stated
- **Stages:** Growth Buyout
- **Sectors:** Healthcare Tech-enabled Services
- **Based in:** San Francisco, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **3 appearances**

- **2015** 1 round
- **Apr** **[Clarkson Eyecare](https://millionrounds.com/company/clarkson-eyecare)** **Undisclosed** Sole investor
- **2014** 1 round
- **Nov** **[Eyemart Express](https://millionrounds.com/company/eyemart-express)** US **Undisclosed** Sole investor
- **2007** 1 round
- **Apr** **[JonesTrading](https://millionrounds.com/company/jonestrading)** Growth · US **$50M** Sole investor

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **11 named**

AS **Aaron Stivers Money** Senior Managing Member i Form ADV

CA **Cas Andrew Schneller** Senior Managing Member i Form ADV

CH **Chris Harris** Executive Officer i Filing they signed

CA **Christopher A. Masto** Director of the general partner of the general partner i Filing they signed

CA **Christopher Andrew Harris** Senior Managing Member i Form ADV

GM **Gregory Michael Long** Senior Managing Member i Form ADV

PA **Patricia Ann Nykodym** Chief Financial Officer / Chief Compliance Officer i Form ADV

PN **Patty Nykodym** Chief Financial Officer i Filing they signed

RD **Rajat Duggal** Senior Managing Member i Form ADV

SC **Spencer Charles Fleischer** Director of the general partner of the general partner i Filing they signed

TM **Tully M. Friedman** Director of the general partner of the general partner i Filing they signed

We also hold **48** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$4.1B** assets it manages Oct 2026

**Registered** investment adviser full reporting to the SEC

- **Legal name:** FFL Partners, LLC
- **SEC number:** CRD 156980

Funds on its Form ADV

**34** private funds, **$3.0B** in gross assets · filed Mar 2024

- FFL Capital Partners V, L.P. *Private equity* 47 investors $966M
- FFL Capital Partners IV, L.P. *Private equity* 55 investors $418M
- FFL Parallel Fund V, L.P. *Private equity* 21 investors $278M
- FFL Parallel Fund IV, L.P. *Private equity* 37 investors $268M
- FFL Parallel CF, L.P. *Private equity* 15 investors $206M
- FFL Capital Partners CF, L.P. *Private equity* 47 investors $202M
- FFL Individual Partners V, L.P. *Private equity* 94 investors $160M
- FFL Parallel Fund IV (DE), L.P. *Private equity* 6 investors $131M
- FFL V NL1 Co-Investment Fund, L.P. *Private equity* 18 investors $95M
- FFL V ALKU Co-Investment Fund, L.P. *Private equity* 10 investors $61M

And 24 more on the filing.

Who backs their funds

## 1 LP on record in FFL Partners's funds

- **Committed:** $200M
- **Funds:** 1
- **Vintages:** 2015

The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Mar 2026.

- [**Washington State Investment Board** 1 fund *$200M*](https://millionrounds.com/fund/washington-state-investment-board) Fund Vintage Committed FFL Capital Partners IV 2015 $200M

## What they claim to have backed

From their own portfolio page (on their website)

**1** of 22 we have independently watched raise

[Eyemartexpress](https://millionrounds.com/company/eyemart-express) Abacustechnology Alku Allytechnical Apex-iv Autismlearningpartners Communitymedicalservices Hellopebl Januspharmacy Medicusit Messaging and design Oneseniorcare Optomi Orthodonticpartners Perlmanclinic Pioneerhoa Provalus Sequoiaclinicalresearch Us-orthopartners Waylin Wellstreet newlookvision.ca

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

New fund on file

**$173M**

raised in Mar 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Growth Buyout

Median round joined **$50M** the round, not its cheque Alone, median **$50M**

Led 0 of 3 rounds **0%**

- **Sole investor:** 3 rounds
- **Last cheque:** Apr 2015

Rounds by stage said on their site

- Growth said *1*
- Buyout said *-*

Cheques by year Led Joined

2007 2015

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## Quick answers about FFL Partners

### What does FFL Partners invest in?

FFL Partners invests most often at Growth (100% of the rounds on record), in sectors such as Healthcare and Tech-enabled Services.

### How active is FFL Partners?

3 investments on record, 0 of them in the last 12 months. The most recent was in Apr 2015.

### How big are FFL Partners's cheques?

The median round it joins is $50M.

### Is FFL Partners investing now?

No investments in the last 12 months; the latest was in Apr 2015.

### What kind of investor is FFL Partners?

FFL Partners is a private equity firm based in San Francisco, United States.

### How much does FFL Partners manage?

About $4.1B, as regulatory assets under management (Oct 2026).

### Has FFL Partners raised a new fund?

Its latest fund filing with the SEC was in Mar 2026, reporting $173M raised.

### When was FFL Partners founded?

FFL Partners was founded in 1997.

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