Lab testing, pharma services-focused Ampersand races to $690m Fund X final close

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Healthcare-focused Ampersand Capital Partners has raced to a $690m final close for its tenth flagship private equity fund in just three months.

The Ampersand 2020 vehicle has come in well above the $450m the firm gathered for its predecessor fundraise in 2018.

Its raise comes a day after Gilde Healthcare gathered $450m for the final close of its latest fund, saying an increased need for remote monitoring and home care of patients due to the coronavirus outbreak was among its focus areas.

Ampersand focuses on investments in laboratory products and services, pharma services and contract manufacturing – all areas which have come under heavy interest as the coronavirus pandemic continues to sweep the globe.

The firm focuses on both majority and minority investments in companies with $10m to $100m in revenues and positive EBITDA.

Ampersand managing partner Herb Hooper said, “We greatly appreciate the strong support from both existing and new investors, and their confidence in Ampersand’s differentiated healthcare investment strategy which we have executed over multiple market cycles.”

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