InTandem Capital Partners has held an above target and final closing of InTandem Capital Partners Fund III LP with $715 million in capital commitments. Fund III’s original target was $650 million.
Fund III received commitments from a group of existing and new investors including endowments, foundations, family offices, healthcare and pension systems, and financial institutions.
“We are delighted and grateful for the success of the fundraising for Fund III,” said Elliot Cooperstone, the managing partner of InTandem. “We view the strong support as a testament to the depth and experience of our team and firmwide reputation built over two decades of partnering with healthcare services entrepreneurs. My colleagues and I are committed to working with great determination to deliver compelling returns and reward the trust of our limited partners.”
New York City-based InTandem makes control investments in small to mid-sized payor, provider, and pharmaceutical services businesses that are based in North America. The firm actively supports the Healthcare Quintuple Aim which is used by healthcare organizations, policymakers, and healthcare systems to guide the development and evaluation of healthcare practices and policies.
“Our long-standing focus on the Healthcare Quintuple Aim – the simultaneous pursuit of enhanced patient experience, elevated provider experience, improved clinical outcomes, greater healthcare equity, and lower cost of care delivery – continues to resonate with institutional investors,” added Brad Coppens, a senior partner at InTandem. “We believe that investment success is intrinsically linked to alignment with and promotion of the Healthcare Quintuple Aim.”
Fund III has already acquired three platform companies including Adams Clinical, a Massachusetts- headquartered clinical research management organization focused on late-stage outpatient central nervous system trials (May 2024), OrthoNebraska, a Nebraska- headquartered provider of orthopedic and musculoskeletal care with locations in Nebraska, Iowa, and Missouri (August 2023); and HouseWorks, a Massachusetts-headquartered provider of home care services with eight locations in Massachusetts, Southern New Hampshire, Maine, and Greater Philadelphia (December 2023).
“We thank our longtime investors for their continued partnership and welcome our new investors joining us in Fund III,” said Lauren Mangino, a principal and head of investor relations and capital formation at InTandem. “We appreciate the confidence our limited partners have placed in us. It is a powerful endorsement of InTandem’s investment strategy.”
Raymond James was the placement agent for this fundraise and Kirkland & Ellis provided legal services.
© 2024 Private Equity Professional | June 14, 2024
