Click here for printer friendly page
Water Street Healthcare Partners closes second fund on $650m03/09/2008. Source: AltAssets. 
 Healthcare-focused private equity firm Water Street Healthcare Partners has closed its second private equity fund, Water Street Healthcare Partners II, on its hard cap of $650m. The fund had an initial target of $600m and held a previous close in June of this year, on that amount.
Investors in the fund comprise domestic and international pension funds, endowments, financial institutions and funds of funds, including returning investors Adams Street Partners, Allianz Private Equity Partners, Goldman Sachs Asset Management and New York Life Capital Partners. New investors include Soros Strategic Partners, Blue Cross Blue Shield of Arizona, Danske Private Equity and other university endowments and foundations.
'We are pleased that our limited partners continue to support our focused investment strategy, said Tim Dugan, founding and managing partner of Water Street. 'Their strong response enabled us to raise our fund quickly. We are grateful for their recognition of the results our firm has achieved over the past two years.'
Chicago-based Water Street closed its debut fund in 2006 on $370m.
The new fund will continue the firm's focus on healthcare companies in the US mid market, namely those in the fields of diagnostic devices, medical products, pharmaceutical services, specialty distribution, specialty pharmaceuticals and specialty services. The firm targets transactions ranging from $50m to $500m in size.
Water Street has already made its first investment from the fund, partnering with Gentiva Health Services to acquire a controlling stake in home health care services company CareCentrix.
Copyright © 2008 AltAssets
|
