“Healthcare staffing is a large, $20bn-plus market and we like to look at big markets undergoing disruption, FTV partner Richard Liu told PE Hub.
"The hottest industries – tech, software, healthcare, and business services – also have the best credit outcomes across cycles," Churchill's Schwimmer said.
The firm is the latest in a slew of shops launched by former Golden Gate executives over the past few years.
Primed by a vigorous deal environment, tech PE fundraising rose to dizzying heights in 2021, with 474 North American vehicles collecting an all-time high of $227bn, according to Buyouts data.
“There are billions of dollars in opportunities in this space, as there was already a good amount of outdoor enthusiasts but now with covid, there is a growing number of people venturing to the great outdoors,” Matt Eby, founder of Seawall, told PE Hub.
"The plumbing services sector is highly fragmented and hyper-locally operated with limited private equity investment to date," Irina Krasik of Stellex, told PE Hub.
Drivers of 2021's robust fundraising – an accelerated pace, bigger tickets, LPs pressing allocation limits and hot strategies like growth equity, tech and the energy transition – will likely also feature in 2022's market.
'Given where the cost of debt currently stands, we don’t expect near-term interest rate increases to have a meaningful impact on loan demand in 2022,' said Clark.
"Infusion therapy delivered in the home provides patients with the lowest cost of care relative to other alternatives and is always preferred by the patient," said One Equity Partners' Greg Belinfanti.
The CalPERS sale is among a slew of traditional LP portfolio sales to hit the market since the fall, with prices high and buyer interest piqued by more diversified investments.