Private company

Friedman Fleischer & Lowe

Logo: Friedman Fleischer & Lowe, Public domain, via Wikimedia Commons3

American private equity firm

FFL Partners, previously known as Friedman Fleischer & Lowe, is an American private equity firm, founded in 1997 by Tully Friedman, Spencer Fleischer, David Lowe, and Christopher Masto. The firm makes investments primarily through leveraged buyouts and growth capital investments and is focused on investing in the U.S. middle-market. FFL has focused its efforts on several core target industries including healthcare services, financial services, business services, and consumer products.2 Wikipedia text CC BY-SA 4.0

Last updated Oct 20, 2026.

Overview

1997Founded1

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FFL Partners, previously known as Friedman Fleischer & Lowe, is an American private equity firm, founded in 1997 by Tully Friedman, Spencer Fleischer, David Lowe, and Christopher Masto. The firm makes investments primarily through leveraged buyouts and growth capital investments and is focused on investing in the U.S. middle-market.2

Corporate structure

Friedman Fleischer & Lowe sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

  • Friedman Fleischer & Lowe San Francisco

Built from subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Friedman Fleischer & Lowe reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Stakes and holdings (Wikidata)

Things Wikidata records the company as owning, with the share when stated.1

The story

FFL was founded in 1997 by Tully Friedman, together with Spencer Fleischer, David Lowe, and Christopher Masto. Prior to founding FFL, in 1984, Tully Friedman had co-founded Hellman & Friedman, one of the largest private equity firms globally, with Warren Hellman. In contrast to Hellman & Friedman, FFL focuses on smaller, middle market deals.

Spencer Fleischer, was a former member of Morgan Stanley's Investment Banking Operating Committee and the Head of Investment Banking in Asia, Head of Corporate Finance for Europe, Head of UK Corporate Finance, Head of Investment Banking in Los Angeles, and Head of Corporate Finance in San Francisco. David Lowe was chairman and CEO of medical equipment maker ADAC Laboratories. Christopher Masto was a Bain & Company consultant and previously an investment banker at Morgan Stanley.

From Wikipedia’s article on Friedman Fleischer & Lowe, shared under CC BY-SA 4.0.4

Products and brands

  • leveraged buyout

Listed on Wikidata.1

Subsidiaries and ownership

Also owns

From Wikidata.1

Timeline

  1. 1997Founded Founded1

Sources

The numbers on this page point here. Each one links to the record it came from.

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