Three executive from private equity firm Oak Investment Partners have held a first close of more than $4o0m for their new fund that will be focused on healthcare and financial technology.
Oak HC/FT Partners was initially targeting $400m, said PeHUB, citing people with knowledge of the fundraising.
The three partners, Ann Lamont, Andrew Adams and Patricia Kemp, are expected to stay in their jobs at Oak, said the report.
These partners were responsible for deals including Castlight Health, AthenaHealth, Benefitfocus and Netspend.
In March it was reported that Oak and Goldman Sachs’ private equity arm were nearing a $1bn-plus sale of iHealth Technologies.
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