Martis Capital Management, formerly Capricorn Healthcare, has closed its third fund, Martis Partners III LP, at its hard cap with $545 million in capital commitments.
Fund III will continue the firm’s strategy of investing from $20 million to $100 million of capital in buyout and growth equity opportunities in North American-based middle-market companies that are active in the services and outsourcing, information technology, and consumer and wellness subsectors of the healthcare industry.
In December 2018, Martis sold HHA eXchange, a provider of healthcare software used in the private duty home care industry to improve patient care, maximize workflow and streamline payments, to Chicago-based private equity firm Cressey & Company. Martis and McCarthy Capital invested in HHA in 2014.
With the final closing of fund three completed, Martis Capital has promoted both Mario Moreno and Owen Davis to Partner. Mr. Moreno joined Martis in 2012 from The Carlyle Group and Mr. Davis joined the firm in 2016 from Francisco Partners. In addition, Senior Associate Vladimir Andonov, who joined the firm in 2008, has been promoted to Director of Business Development.
Martis Capital changed its name in August 2018 from Capricorn Healthcare and has now raised more than $1.25 billion of capital since 2011. The firm has offices in Palo Alto, CA and Washington, DC (www.martiscapital.com).
Metric Point Capital (www.metricpoint.com) was the placement agent for this fundraise and McDermott Will & Emery (www.mwe.com) provided legal services.
© 2019 Private Equity Professional | April 11, 2019
