Avista Capital Partners has raised $1.2 billion for its fifth fund, beating its $775 million target. The fund’s limited partners include public pension funds, university endowments and foundations, family offices, insurance companies and asset managers across North America, Europe, Asia and the Middle East. UBS acted as placement agent for Fund V while Kirkland & Ellis provided legal counsel. Avista invests in healthcare.
NEW YORK, March 2, 2021 /PRNewswire/ — Avista Capital Partners (“Avista” or “the Firm”), a leading New York-based healthcare private equity firm, today announced the final closing of Avista Capital Partners V, L.P. and Avista Capital Partners (Offshore) V, L.P. (collectively, “Fund V” or the “Fund”). Fund V was over-subscribed, hit its hard-cap and substantially exceeded its target of $775 million, closing with committed capital of $1.2 billion.
Fund V is comprised of a diversified set of investors, including leading public pension funds, university endowments and foundations, family offices, insurance companies and asset managers across North America, Europe, Asia and the Middle East. Avista received widespread support from its Fund IV investors and is also pleased to welcome a host of new and distinguished investors, including Capital Constellation, with whom Avista formed a strategic partnership during 2020.
Thompson Dean and David Burgstahler, Managing Partners and Co-Chief Executive Officers at Avista, said, “We are very pleased with the reception of Fund V and are grateful for the support of our returning and new limited partners. The strong closing of the Fund is an endorsement of our investment strategy, underpinned by many years of dedicated healthcare experience, the strength of our investment team, strong alignment of interest with our investors and Avista’s ability to generate consistent returns. The rising global demand for healthcare products and services will continue to present a host of compelling investment opportunities where our sector expertise can drive value creation and generate strong outcomes for our investors.”
In deploying the Fund, Avista will continue to invest in leading middle-market healthcare companies where it can drive growth and build lasting value. The Firm’s deep industry expertise, proactive value-added capabilities and partnership-based engagement with portfolio companies has generated significant value through various economic cycles, as demonstrated by its track record. Avista considers environmental, social and governance factors when investing and is committed to diversity and inclusion at the firm and its portfolio companies.
UBS acted as placement agent and Kirkland & Ellis provided legal counsel for Avista.
About Avista Capital Partners
Founded in 2005, Avista Capital is a leading New York-based private equity firm with over $6 billion invested in more than 35 growth-oriented healthcare businesses globally. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects – investing in the medical devices and technologies, pharmaceuticals, outsourced pharmaceutical services, healthcare technology, healthcare distribution, and consumer-driven healthcare sectors. Avista’s Operating Executives and Advisors are an integral part of the team, providing strategic insight, operational oversight and senior counsel, which helps drive growth and performance, while fostering sustainable businesses and creating long-term value for all stakeholders. For more information, visit www.avistacap.com.