Cressey & Company Closes Fund 5 at Hard Cap

Cressey & Company has held a final close of Cressey & Company Fund V, LP at the fund’s hard cap of $615 million.  Fund V launched in July 2014 with a target of $400 million and was quickly oversubscribed.  Cressey & Company’s previous standalone fund, Cressey & Company Fund IV, closed in 2010 with $385 million in capital commitments.

The new fund will continue Cressey & Company’s focus on investing in provider, service and information technology businesses in the North American healthcare industry. The firm generally seeks control-oriented investments in companies with enterprise values at the time of investment of between $50 million and $300 million.  Similar to Fund IV, Fund V will implement Cressey & Company’s “Target, Partner and Build” strategy that focuses on providing capital and support to executives in high-potential sectors of the healthcare industry.

“We are pleased with the support our new fund has received,” said Peter Ehrich, Partner at Cressey & Company.  “The investment community’s response underscores the strength of our investment strategy and team.  We thank our existing and new investors for entrusting us with their capital, and we look forward to applying our expertise with the goal of building high quality healthcare businesses.”

Cressey & Company did not utilize a placement agent to raise the new fund.  Ropes & Gray served as the firm’s legal counsel.

Cressey & Company has offices in Chicago and Nashville (www.cresseyco.com).

2014 PEPD • Private Equity’s Leading News Magazine • 12-9-14