NEW YORK - Francisco Partners LP, a six-month-old firm whose founders include the former chairman of Robertson Stephens & Co. and veterans of Texas Pacific Group, has raised $1.8 billion to finance buyouts of "distressed" technology companies.
It has already paid $330 million for units of Sterling Commerce Inc. and Advanced Micro Devices Inc.
Former Robertson Stephens chairman Sandy Robertson started the firm in February with Ben Ball, a former partner in TA Associates; David Stanton and Dipanjan Deb, both former partners in Texas Pacific; and Neil Garfinkel, a former vice president at Summit Partners.
Robertson Stephens was bought by the former BankAmerica Corp. in 1997 and later sold to the former BankBoston. It is now a unit of FleetBoston Financial Corp.