Consonance Capital racks up $856m for second fund

Consonance Capital Partners, a healthcare-focused private equity firm, has closed its second fund at a hard cap of $856 million.

Consonance Capital Partners, a healthcare-focused private equity firm, has closed its second fund at a hard cap of $856 million. The fund’s limited partners included insurers, endowments, foundations, family offices, asset managers, funds of funds, pension plans and strategic healthcare providers in the U.S. and Europe. Monument Group was the placement agent while Latham & Watkins LLP served as legal counsel.

PRESS RELEASE

NEW YORK, April 27, 2020 – Consonance Capital Partners, a leading U.S.-based healthcare private equity firm, today announced the final close of Consonance Private Equity II, L.P. (“Fund II”). Fund II closed at its hard cap of $856 million (inclusive of the GP commitment) in under three months from its initial close. Consistent with its predecessor fund, Fund II will focus on investments in U.S. healthcare companies in the lower and middle markets.

Commenting on the close of Fund II, the firm’s four Managing Partners and Co-Founders, Mitchell Blutt, Benjamin Edmands, Stephen McKenna, and Nancy-Ann DeParle said:

“We are very pleased to close our second fund at its hard-cap and want to thank our limited partners for their commitment to our firm. Our team will continue to be highly focused and disciplined as we look at investment opportunities that provide high-quality care and where we believe we can help businesses grow and succeed through our strategic advice, operating expertise, extensive relationships and prudent financial management. We formed Consonance Capital Partners with the goal of partnering with world-class management teams, and we also want to thank them for their consistent commitment to providing high quality care – which has led to a strong value proposition for all of our stakeholders, including patients, clinicians, and payors.”

The Managing Partners added, “And as we all manage through the COVID-19 pandemic together, our thoughts and prayers are with all who are suffering and have been impacted.”

Fund II closed on April 8, 2020 receiving strong support from existing investors, as well as from a select number of new limited partners. The diverse investor mix is comprised of leading insurers, endowments, foundations, family offices, asset managers, funds of funds, pension plans, and strategic healthcare providers in the United States and Europe.

Monument Group, one of the industry’s leading placement agents, served as global placement agent for the fund while Latham & Watkins LLP served as legal counsel.

About Consonance Capital Partners
Consonance Capital Partners invests in private companies in the lower and middle markets of the U.S. healthcare industry with an emphasis on businesses driving efficiency, cost containment, and high quality care to patients. Consonance Capital Partners participates in growth equity, leveraged buyout, carve-out, recapitalization, and special situation transactions. For more information, visit www.consonancecapital.com.

About Monument Group
Monument Group is an independent private fund placement agent managed by a senior team with significant buy-side investment heritage. Since its inception in 1994, Monument Group has assisted a range of general partners around the world to raise over 100 funds, totaling more than $104 billion of equity. These clients represent a broad variety of investment strategies including buyouts, debt, distressed, energy and natural resources, growth, infrastructure and real estate. Monument Group has offices in Boston, London, Hong Kong and Tokyo. Monument Group also has a strategic alliance with boutique secondaries advisor Mozaic Capital. For more information on Monument Group’s primary and secondary capabilities, visit www.monumentgroup.com.