DW Healthcare Partners has closed its fifth fund (Fund V) at its oversubscribed hard cap of $610 million. The firm’s earlier fund closed in March 2017 with $295 million of capital commitments.
DW Healthcare Partners invests from $15 million to $60 million in North America-based healthcare companies that have at least $5 million of EBITDA. The firm has a team of more than 27 professionals and offices in Toronto, ON and Park City, UT (www.dwhp.com).
“We are grateful for the support we have received from both previous and new investors in Fund V. We believe we have earned their trust through our long track record, sourcing model, and differentiated investment strategy,” said DW Healthcare Partners’ Co-Founder and Managing Partner, Andrew Carragher.
Since 2003 DW Healthcare Partners has invested in 34 platform companies and completed 52 add-on acquisitions. Many of these investments have been sourced through the firm’s internal sourcing process, which involves a team of six professionals working to refine and build out its proprietary database of over 43,000 healthcare companies.
To date, Fund V has completed one platform investment with the June 2019 buy of Cefaly, a manufacturer and distributor of proprietary, patent-protected neurostimulation medical devices used for the treatment of migraine headaches. Cefaly was founded in 2004 and is headquartered in Liège, Belgium, with US operations in Wilton, CT (www.cefaly.us).
With the closing of Fund V, DW Healthcare Partners now has total capital under management of just over $1.4 billion.
M2O Private Fund Advisors was the placement agent for this fundraise and Kirkland & Ellis provided legal services.
© 2019 Private Equity Professional | July 23, 2019
