CHICAGO, December 1, 2025 – FlowStone Partners LLC (“FlowStone” or the “Adviser”) today announced that it has entered into a strategic transaction with WTW, a leading global advisory and solutions company. This combination is expected to strengthen FlowStone’s platform by expanding investment and operational resources, enhancing data and analytics capabilities, and providing broader access to long-term shareholder capital.
“Combining FlowStone’s deep expertise in private equity secondaries with WTW’s global scale in discretionary and non-discretionary investment management and retirement planning creates a powerful platform positioned to meet the evolving needs of investors across these growing markets. We’re excited to bring our experience, relationships, and proven track record to WTW’s expanding suite of alternative investment solutions.” said Scott Conners, President of FlowStone Partners. “WTW’s deep investment research capabilities, advanced analytics, and commitment to innovation will help our investors stay ahead of the curve as new solutions expand access to the benefits of private markets,” added Michael Carrano, Managing Director and Investment Committee Member of FlowStone Partners.
“We are excited to expand the opportunity set for both institutional and individual wealth investors, pairing FlowStone’s seasoned expertise in secondaries investing with WTW’s global scale, sourcing network and research engine. The acquisition meaningfully expands WTW’s ability to serve clients’ evolving needs and deliver differentiated private market solutions. This is a bold venture in the future of private equity secondaries investing,” said Diya Luke, global head of Investments, WTW. “As the defined contribution market continues to pursue better participant outcomes, this acquisition strengthens our ability to deliver private markets solutions. By unlocking access to high-quality, private markets through more accessible structures, we’re reaching more individuals and helping them achieve stronger long-term outcomes.” said Nimisha Srivastava, head of Investments, North America, WTW.
Upon closing, the entire FlowStone team is expected to join WTW to lead its private equity secondaries business and continue managing the FlowStone Opportunity Fund (“FSOF” or the “Fund”), a registered closed-end tender fund under the Investment Company Act of 1940. Together with WTW, our goal is to enhance our capabilities to deliver consistent, long-term value for FSOF shareholders. The transaction is subject to mutual fund shareholder approval and other customary closing conditions, which are expected to be completed by early 2026.
We appreciate your continued support and confidence as we take this important step to expand our platform with the goal of delivering long-term benefits to shareholders.
About FlowStone Partners
FlowStone Partners 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. The FlowStone team 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.
About WTW Investments
WTW’s Investments business is focused on creating financial value for end investors through its expertise in risk assessment, strategic asset allocation, fiduciary management and investment manager selection. It has over 900 colleagues worldwide, more than 1,000 investment clients globally, assets under advisory of over US$4.7 trillion and US$178.8 billion of assets under management.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance. Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com. Learn more at https://www.wtwco.com/.
IMPORTANT INFORMATION – FLOWSTONE OPPORTUNITY FUND
The performance data shown represents past performance. Past performance is no guarantee of future results. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the past performance quoted. Email [email protected] for additional information or visit www.flowstonepartners.com for details related to the Fund’s performance.
Past performance does not guarantee future results. As of 09/30/2025 the Flowstone Opportunity Fund’s total return since inception was 112.91% for Class I Shares.
Russell 2000: The Russell 2000® Index is a subset of the Russell 3000® Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2,000 of the smallest securities based on a combination of market cap and current index membership.
Returns are presented net of expenses. Expense ratios are 5.63% for Class A shares; 5.08% for Class D shares; 4.78% for Class I shares; 4.78% for Class M shares. Performance figures do not reflect the 2% early repurchase fee that may apply to some unit holders. Expenses are estimated as of the Fund’s prospectus, effective July 31, 2025.
This material is published as assistance for recipients, but does not constitute investment advice and is not to be relied upon as authoritative nor to be substituted for one’s own judgment. This information is not a recommendation to purchase or sell a security or follow any strategy or allocation. Before making any investment decision, you should seek expert, professional advice and obtain information regarding the legal, fiscal, regulatory and foreign currency requirements for any investment according to the laws of your home country and place of residence.
The information contained herein reflects views as of a particular time, and is subject to change without notice. It is for illustrative purposes only and may not be representative of current or future investments or allocations. Any forward-looking statements are based on assumptions, and actual results may vary from such statements. There is no requirement to update information provided, unless otherwise required by applicable law. While reasonable efforts have been used to obtain information from reliable sources, no representations or warranties are made as to the accuracy, reliability or completeness of third-party information presented. The information contained in this document is unaudited.
