DW Healthcare Partners has completed fundraising for its third fund with $265 million of committed capital, exceeding its original target of $250 million. Fund III investors include pension plans, foundations, fund of funds, high net-worth individuals and family trusts.
“Through our partnerships with talented founders and management teams in our portfolio companies, we have been able to sustain a consistent track record of delivering above-average returns to our investors. As a result, we attracted a great deal of interest while fundraising for Fund III and are pleased that we have exceeded our target,” said Andrew Carragher, DW Healthcare Partners Co-Founder and Managing Director. “We thank all of our limited partners for their commitment to our firm and look forward to forging new partnerships with innovators, founders, and management teams in the healthcare industry”.
During the fundraising period, DW Healthcare Partners (DWHP) completed three Fund III investments, totaling approximately $80 million. Through these investments, DWHP has become equity partners with Z-Medica, a developer and manufacturer of hemostatic agents; Health & Safety Institute, a provider of safety and emergency care content and training, and Med-Pharmex, a veterinary drug manufacturer.
With the closing of Fund III, the firm has opened an office in Toronto to enable the firm to cover the Eastern Coast of the United States and Canada more efficiently. The Toronto office is staffed with Co-Founder Andrew Carragher and Managing Director Rod Boone along with six other professionals.
DWHP’s Fund III investment strategy mirrors the model of its first two funds, working as a strategic resource to founders to accelerate the growth of their businesses. DWHP’s first two funds were $88 million and $162 million in size, and resulted in 16 platform company investments in the medical device, clinical research, wholesale pharmacy and outsourced healthcare service areas. For Fund III, DWHP is seeking investments in companies with EBITDAs of $4 million or more.
Berchwood Partners served as the placement agent on this fundraise for DW Healthcare Partners. Berchwood Partners assists in raising capital from investors around the world for North American, European, Middle Eastern and Asian fund managers focused on buyout, venture, real estate, and secondary strategies. The firm has offices in New York and London (www.berchwoodpartners.com).
With the closing of Fund III, DW Healthcare Partners now manages over $500 million in committed capital. The firm is based in Park City, UT (www.dwhp.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 2-11-13