BelHealth raises $350 mln for second fund

Healthcare-focused private equity firm BelHealth Investment Partners has closed its second fund at a hard cap of $350 million, sweeping past its $300 million target in under nine months.

The fundraising was accomplished without a placement agent, the firm said.

Fund II’s limited partners include college endowments, foundations, fund of funds, family offices and BelHealth partners. Fund II had full re-up from existing institutional investors, along with adding several new investors, the firm said.

Fund II has not yet begun to invest, but the firm is exploring opportunities, BelHealth said.

In 2012, BelHealth raised $150 million for its first fund, falling short of its $200 million target, as previously reported by peHUB. No performance data information was available.

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