New York, NY – November 16, 2015
Flexpoint Ford, LLC (“Flexpoint Ford” or the “Firm”), a Chicago-based private equity investment firm specializing in the financial services and healthcare industries, is pleased to announce the hire of Alex Saporito in the New York office. Alex joins Flexpoint Ford as a Managing Director to oversee investments in the Flexpoint Special Assets Fund, L.P. (the “Special Assets Fund”) and to expand the Firm’s capabilities across a broad range of assets.
Alex Saporito was previously a Managing Director and Global Head of Structuring for Securitized Products at Morgan Stanley, where he designed and executed asset-backed financing transactions for the firm and its clients in both the primary and secondary market. With over 17 years of structured finance experience, he has covered a broad range of consumer, commercial and real estate assets in the U.S., Europe and Asia. Mr. Saporito earned a BS in chemical engineering from Cornell University and an MBA from Columbia University.
“The Special Assets Fund provides us with a vehicle to invest in opportunities where a target company itself may not be an appropriate candidate for our private equity fund structures but might have financial assets that can be acquired with the potential to provide attractive risk-adjusted returns. Through our history of making private equity investments in asset intensive financial services companies, we strategically developed an in-house expertise to evaluate and source many types of financial assets. We are uniquely positioned to take advantage of these opportunities and Alex’s broad structured finance experience will be invaluably additive to the portfolio and the Firm,” said Steven L. Begleiter, Managing Director in the New York office.
“We are very excited to welcome Alex to the Flexpoint Ford team,” said CEO Don Edwards. “Alex brings a wealth of experience in the analysis, structuring and financing of financial assets, which will significantly enhance Flexpoint’s leading position as a financial services investor in both our private equity and asset funds.”
“I am thrilled to join the Flexpoint Ford team,” Alex Saporito remarked. “In my view, the Firm’s specialized proficiency gained through the private equity business gives Flexpoint Ford a competitive advantage to invest in the rapidly evolving financial asset market.”
Flexpoint Ford announced in August the first and final closing of its third private equity fund, Flexpoint Fund III, L.P. (“Fund III”) at $950 million, along with a new investment vehicle, the Special Assets Fund at $317 million. Fund III plans to invest in minority and majority equity stakes in financial services and healthcare companies. The Special Assets Fund will further leverage Flexpoint Ford’s existing financial services expertise by investing directly or indirectly in pools of financial assets, such as loans, leases, books of insurance and other assets associated with financial services companies.
Flexpoint Ford is a private equity firm dedicated to the healthcare and financial services sectors. Flexpoint Ford seeks to build relationships with executives and companies who look for Flexpoint Ford to be a value-added partner. Flexpoint Ford currently manages approximately $2.3 billion in committed capital on behalf of its limited partners.