Alex Albert has departed from Ares Management after co-heading its private equity healthcare efforts for about six years, according to sources familiar with the matter.
As a partner within Ares Private Equity Group, Albert has been involved in steering a number of the firm’s healthcare services investments since 2014. The investor co-head the industry group alongside partner Kevin Ryan.
Albert’s future plans are unclear.
Based out of the greater Los Angeles area, Albert has held various board memberships at portfolio businesses including DuPage Medical Group, OB Hospitalist Group, Unified Women’s Healthcare and National Veterinary Associates.
In recent notable activity, Ares Management brought on Altas Partners as an investor in Unified Women’s Healthcare in November. Concluding a robust sale process, the deal valued the provider of practice management services to OB/GYNs in the $1.5 billion to $1.6 billion range, PE Hub reported.
In other activity, Ares’ 2017 investment in DuPage valued the multi-specialty physician group at $1.45 billion.
Before joining Ares, Albert was a vice president at FFL Partners for about five years. The investor was previously an associate at KKR and an analyst in the investment banking division of Goldman Sachs.
Albert is also a board member of the Healthcare Private Equity Association (HCPEA)
Ares’ Private Equity Group has approximately $26.7 billion of assets under management as of September 30, 2020. The firm saw record fundraising during the third quarter, bringing in $12.7 billion across several platforms, Buyouts wrote. Ares in Q3 2020 closed on $3.7 billion for its sixth flagship private equity fund, on the way to a $9.25 billion target.
Ares did not return requests for comments, while Albert could not be reached.