PE Deals

Locust Point is said to seek $250 mln Fund I

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private equity, Locust Point, fundraising, healthcare
  • Locust Point is said to be in market with first fund
  • Locust Point has yet to pick placement agent: source
  • Ex-Contemporary Healthcare execs launched Locust Point

Locust Point Capital is in the market with its first fund, a source and placement documents said.

Locust Point Private Credit Fund LP is seeking $250 million, the source and documents said. A first close of $30 million is expected in September, the source said.

The Red Bank, New Jersey, firm has yet to pick a placement agent, the source said.

The mezzanine debt pool will focus on senior housing and long-term care, the person said. The fund will make debt or equity investments, the source said.

Several executives from Contemporary Healthcare Capital, a management company that targets exclusively healthcare, spun out to form Locust Point in 2015. Co-founders include Eric Smith, Christopher Claps and Daniel Contardi, who were all with Contemporary, the firm’s website said.

Action Item: Contact Locust Point: info@locustpointcapital.com

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