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INTELLIGENCE
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HEDGE FUNDS
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PRINT THIS PAGE Avista closes $2bn fund14/06/2007. Source: AltAssets. 
 US firm Avista Capital Partners has closed its first private equity fund, Avista Capital Partners, on $2bn, well above its original target of $1.5bn.
Approximately 60 institutional investors have made commitments to the fund, the firm said. The general partners of Avista are collectively the largest investor in the fund with a $161m commitment.
Thompson Dean, co-managing partner and CEO of Avista, said, 'We are very pleased with the high level of interest in our first independent fund. The total commitments to the fund exceeded our expectations, and we are thrilled with the quality and diversity of our investor base. We look forward to continuing to apply our proven investment strategy of combining investment professionals with industry experts to source, evaluate and execute attractive investments in our target sectors, as well as to add value to our portfolio companies.'
Avista makes controlling or influential minority investments, primarily in US-based companies operating in the energy, healthcare and media sectors.
The firm was formed in 2005 by a group of former DLJ Merchant Banking Partners investment professionals.
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