Flexstone Partners, an affiliate of Natixis Investment Managers, agreed to acquire Boston‑based Glouston Capital Partners. The deal adds a secondaries specialist with over $3.4 billion AUM to Flexstone’s platform, aligning with its push to grow secondary capacities. CEO Eric Deram said Glouston’s US focus complements Flexstone’s geographic footprint. The transaction, slated to close later this year, will be funded through equity issuance rather than cash.

Flexstone’s move follows a broader trend of consolidation among secondary‑market firms seeking scale to meet rising demand from institutional investors for liquidity solutions. By integrating Glouston’s US‑focused deal flow, Flexstone can broaden its product suite and improve pricing power across vintage years. The combined entity now manages roughly $3.4 billion, positioning it among the top‑tier secondary platforms and diversifying its investor base.

Investors will watch how the integration impacts fee structures and transaction speed. If Flexstone leverages Glouston’s relationships, it could capture a larger share of secondary‑sale pipelines and boost returns for Natixis‑backed clients. The acquisition also signals confidence in secondary markets amid volatile primary fundraising, solidifying Flexstone’s ambition to be a leading player as AUM expands.