Council Capital has closed its third fund, Council Capital III, LP, at the hard cap of $150 million in capital commitments. The new fund beat its target of $125 million.
Fund III limited partners include investors from the firm’s earlier fund, Council Capital II, LP, which closed in 2008 with $66 million of capital commitments. However, more than half of the Fund III capital was raised from new investors including foundations, fund of funds, endowments, financial institutions and family offices. Council Capital was also able to attract several strategic healthcare investors including health plans that collectively serve more than 18 million members.
“We are grateful to all of our investors for their support and commitment,” said Grant Jackson, Council Capital’s managing partner. “Exceeding our target, while adding a number of leading institutional and strategic healthcare investors is a testament to the strength of our team and the CEO Council business model, which we will continue to utilize to support our portfolio companies by helping drive their growth and increase their equity value.”
The firm’s “CEO Council” provides portfolio companies access to a group of 34 CEOs and healthcare investors who support management teams with their experience and networks. Collectively, the CEO Council members have over 430 years of experience as President/CEO and have held more than 130 board seats.
Council Capital invests growth capital in healthcare companies that have revenues of $5 million to $50 million and enterprise values of $10 million to $50 million. The firm is led by its partners Grant Jackson, Dennis Bottorff, Katie Gambill, and Eric Keen. With the close of Fund III, total capital now under management at Council is $300 million. Council Capital was founded in 2000 and is headquartered in Nashville (www.councilcapital.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-14-16
