FlowStone Partners

Overview

FlowStone Partners is a private equity firm specializing in private equity secondaries investments for individual and institutional clients. The firm manages private equity investment products that address the unique requirements of smaller institutional and individual investors by combining the core benefits of private equity secondaries with flexible and accessible fund structures. The FlowStone investment team has over 90 years of combined private equity secondary and primary investment experience. FlowStone has the ability to design and manage co-mingled fund products and, using this same private-equity expertise, the potential to build customized vehicles with bespoke strategies to accommodate the needs of a variety of investor types. In December 2025, FlowStone Partners was acquired by Willis Towers Watson (WTW), a leading global advisory and solutions company. This acquisition is expected to enhance WTW’s ability to deliver high-quality private market exposure through more accessible vehicles for both institutional and individual investors. The transaction is subject to approval by FlowStone’s fund shareholders and independent trustee board, with closing anticipated in early 2026. Prior to the acquisition, FlowStone Partners managed the FlowStone Opportunity Fund, an evergreen fund registered under the 1940 and 1933 Acts that had generated a cumulative return of 112.91% since its August 2019 inception. As of October 1, 2025, the fund’s net asset value rose 2.26% in the third quarter, bringing total assets to approximately $757 million. The acquisition combines FlowStone’s expertise in private equity secondaries with WTW’s global scale, sourcing network, and research capabilities, aiming to deliver differentiated private market solutions to a broader range of investors.