Archean Capital Partners, a private market investment platform formed by Veritable and Moelis AM, has made an $100 million investment to a fund advised by Petrichor Healthcare Capital Management LP. Based in New York, Petrichor is a private equity firm focused on the healthcare sector.
PHILADELPHIA and NEW YORK, October 19, 2017: Archean Capital Partners (“Archean”), a private market investment platform established by Veritable, L.P. (“Veritable”) and Moelis Asset Management LP (“Moelis AM”), today announced a $100 million anchor capital commitment by Archean Capital Partners I, L.P. to a fund advised by Petrichor Healthcare Capital Management LP (“Petrichor”).
In addition to initial capital, Archean is providing operational support to Petrichor which is led by Tadd Wessel. Mr. Wessel has over 19 years of experience in healthcare finance.
“We are very pleased to have completed this investment for Archean’s first special purpose vehicle. Archean’s mandate is to create early access for our investors to high-quality managers. We believe that Tadd’s experience and focused strategy combine to create a unique investment opportunity. We look forward to continuing our support for Petrichor and to identifying additional opportunities for Archean’s investors.” said Michael Stolper, Founder and CEO of Veritable.
“We are thankful to Archean for their partnership and support,” said Mr. Wessel.
“Archean’s capital and expertise provide managers like Tadd with a springboard from which to launch their firms. The completion of Archean’s first investment is a testament to the value of this unique platform and we look forward to successfully identifying new managers and opportunities,” said Chris Ryan, Managing Director of Moelis AM.
Archean seeks to partner with managers across a broad range of strategies including buyout, turnaround/restructuring, growth, credit opportunities, and real estate. As part of Archean’s seed investment of capital in newly launched funds, Archean seeks to provide its investors returns generated on both invested capital and revenue sharing from the new investment manager’s business.
About Archean Capital Partners
Archean Capital Partners is a joint venture between Veritable, L.P. and Moelis Asset Management LP. Archean is a private market investment platform that seeks to deploy capital with highly qualified portfolio managers who are interested in starting their own firms. Archean is focused on opportunities in such specialties as buyout, growth, restructuring/turnaround, direct lending, and real estate.
About Petrichor Healthcare Capital Management
Petrichor Healthcare Capital Management LP is a newly formed private equity firm that makes structured credit, royalty, and equity investments in the healthcare sector. Petrichor’s Founder and CEO, Tadd Wessel, has over 19 years of experience in healthcare finance. The firm is based in New York. For further information, please visit: www.petrichorcap.com