Great Point Partners has held a final closing of Great Point Partners II, LP (GPP II) with $215 million of capital commitments. The new fund exceeds the firm’s $200 million fund raising target and is larger than the firm’s prior fund which had $156 million of capital commitments.
“We are pleased to announce our final close,” said Jeffrey Jay, M.D., Managing Director of Great Point Partners. “This successful fundraise was driven by strong support from both existing and new investors in the United States, the United Kingdom and continental Europe. We see this success as a clear global endorsement by our investors of our growth buy‐out and growth recapitalization investing model.”
GPP II’s limited partners include endowments, foundations, family offices, banks and pension funds. A significant number of the new investors are from outside of the United States.
GPP II, like Great Point’s prior fund, will invest in lower middle market, growth health care companies. Great Point invests in most areas of health care with particular emphasis on the outsourcing sector, the pharmaceutical and biotechnology supply chain, health care information technology and devices and diagnostics.
“GPP II will continue to pursue a strategy the firm has followed for a decade ‐ partnering with management teams to build market‐leading health care companies through a combination of organic growth and the aggressive pursuit of accretive tuck‐in acquisitions,” said Adam Dolder, Managing Director. “While growth is always a core aspect of our investment theses, we add value by placing members of our CEO Advisory Board as Operating Chairmen or Lead Directors on portfolio company boards and by assigning a team to research, source and close tuck‐in acquisitions.”
Great Point Partners now has approximately $700 million of equity capital under management. Since founding in 2003, the firm has provided growth equity, recapitalization and management buyout financing to more than 100 health care companies. Currently the firm manages capital in both public equity and private equity funds. Both the private and public funds invest across all sectors of the health care industry including biotechnology and life sciences, consumer health, generic drugs, health care services, information technology, insurance, medical devices, specialty pharmaceuticals and workers compensation. Great Point Partners is located in Greenwich, CT (www.gppfunds.com).
“We believe that our strong track record and continuing ability to both make and exit investments that generate attractive rates of return, regardless of the difficulty of the economic cycle, is a testament to the firm’s focus on building durable companies that lower the cost of health care and enhance the efficiency in production and delivery,” said David Kroin, Managing Director.
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-20-13