Francisco Partners Defies AI Fears With $18 Billion Buyout Haul

Technology-focused Francisco Partners collected more than $18 billion for two private equity funds, capturing its biggest-ever haul despite a challenging time for buyouts.

The firm is expected to announce the final close of its flagship fund and a smaller vehicle in the coming weeks, according to people familiar with the matter. The flagship Francisco Partners VIII LPexceeded its $14 billion target, while Agility Fund IV LP surpassed its $4 billion goal, the people said, asking not to be identified because the details are private.

Investors in the latest funds include the Nebraska Investment Council, Pennsylvania State Employees’ Retirement ...