Avista Capital Partners, a New York-based healthcare private equity firm, has held the final closing of Avista Capital Partners V, which was over-subscribed, hit its hard-cap and substantially exceeded its target of $775 million, closing with committed capital of $1.2 billion.
Fund V is comprised of a diversified set of investors, including leading public pension funds, university endowments and foundations, family offices, insurance companies and asset managers across North America, Europe, Asia and the Middle East.
Avista received widespread support from its Fund IV investors and is also pleased to welcome a host of new and distinguished investors, including Capital Constellation, with whom Avista formed a strategic partnership during 2020.
Thompson Dean and David Burgstahler, Managing Partners and Co-Chief Executive Officers at Avista, says: “We are very pleased with the reception of Fund V and are grateful for the support of our returning and new limited partners.
The strong closing of the Fund is an endorsement of our investment strategy, underpinned by many years of dedicated healthcare experience, the strength of our investment team, strong alignment of interest with our investors and Avista’s ability to generate consistent returns. The rising global demand for healthcare products and services will continue to present a host of compelling investment opportunities where our sector expertise can drive value creation and generate strong outcomes for our investors.”
In deploying the Fund, Avista will continue to invest in leading middle-market healthcare companies where it can drive growth and build lasting value. The Firm’s deep industry expertise, proactive value-added capabilities and partnership-based engagement with portfolio companies has generated significant value through various economic cycles, as demonstrated by its track record.
Avista considers environmental, social and governance factors when investing and is committed to diversity and inclusion at the firm and its portfolio companies.
UBS acted as placement agent and Kirkland & Ellis provided legal counsel for Avista.