Grant Avenue Capital has been launched to pursue investments in mid-sized healthcare companies centered on themes of cost containment, custom solutions, consumerism and compliance.
The New York City-based firm is led by Buddy Gumina, who most recently served as senior equity partner at Apax Partners.
“Amidst the ever-evolving healthcare sector, we believe there are attractive opportunities for an experienced investor such as Grant Avenue Capital to identify, invest in and transform middle-market businesses that are connected to our core investment themes,” said Mr. Gumina. “Grant Avenue Capital’s deep healthcare network, coupled with our proven growth-oriented playbook, long-term vision and creative capital solutions, make the firm a fantastic partner for founders, entrepreneurs and management teams.”
During his time at Apax, Mr. Gumina founded and led the build-out of the firm’s U.S. healthcare buyout practice over the course of 20 years and across multiple economic cycles. Mr. Gumina invested over $4 billion, with an additional $1.5 billion of co-investment from limited partners and strategic investors, in companies operating in services, medical devices, pharmaceutical products and healthcare IT.
Mr. Gumina graduated from Yale University with a BA in Political Science and he also has an MBA from Harvard.
Grant Avenue Capital will target investments in companies generating from $5 million to $25 million of EBITDA and investment types include control buyouts, buy-and-builds, joint-control partnership investments and special situations. Grant Avenue has enough capital support to complete larger transactions through co-investment relationships. Sectors of interest within healthcare include services, devices, pharma and pharma services and information technology.
Grant Avenue also has an advisory board composed of healthcare executives with specific domain knowledge that can utilize their operational experience to assist in driving growth and efficiencies at portfolio companies.
The operations of Grant Avenue are anchored by an established investment firm managing investment pools on behalf of a select group of high net worth families.
Grant Avenue Capital is headquartered in New York (www.grantavecap.com).
© 2019 Private Equity Professional | May 22, 2019