Frazier Healthcare Partners has held a final closing of Frazier Healthcare Growth Buyout Fund IX LP with an oversubscribed $780 million in committed capital. The firm’s earlier fund closed in March 2016 at $525 million.
The new fund represents Frazier Healthcare Partners’ second dedicated growth buyout vehicle focused exclusively on profitable healthcare companies in the lower middle market. Overall, this is Frazier Healthcare Partners’ eleventh fund and brings the firm’s total capital under management to more than $4.2 billion.
“We are appreciative of the continued support from our existing investors and pleased to have added a few new select blue-chip limited partners that together represent a world-class group of investors,” said Nader Naini, managing partner at Frazier Healthcare Partners. “The commitment and confidence they have shown in our team is directly related to our rich 27-year history of developing category-leading healthcare companies. The team is particularly gratified by the overwhelming response to this offering.”
The growth buyout team – led by Mr. Naini, Nathan Every, Brian Morfitt, and Ben Magnano – has experience with all types of transactions, including complex small buyouts, recapitalizations, corporate carve-outs and consolidations of sub-performing platform assets and is based in Seattle with team members also located in Los Angeles, Pittsburgh, Menlo Park, and San Diego.
Frazier Healthcare invests from $20 million to $50 million in buyouts, recapitalizations or corporate carve-outs of healthcare services and biopharma companies that have between $5 million and $50 million of EBITDA. Target acquisitions can be located anywhere in the United States, Canada and Europe. Frazier Healthcare was founded in 1991 (www.frazierhealthcare.com).
© 2018 Private Equity Professional | April 25, 2018