NovaQuest’s first dedicated PE fund raises $275 mln

NovaQuest Capital Management LLC said Nov. 20 that its first dedicated private equity fund has closed on its $275 million hard cap. NovaQuest Private Equity invests in opportunities that aim to reduce the total cost of care, meet unmet medical needs, reduce unnecessary procedures, improve efficacy (therapeutics or prevention) and / or improve the quality of life. Eaton Partners was placement agent.


NovaQuest Capital closes $275 million in its dedicated private equity fund


Raleigh, NC, November 20, 2019 – NovaQuest Capital Management, L.L.C (“NovaQuest” or the “Firm”), a healthcare and life sciences focused private investment firm, today announced the successful final close for NovaQuest Private Equity Fund I, L.P. (“Fund I”) with $275 million in total capital commitments. Fund I will continue NovaQuest’s focus on investing in and building leading services and technologies in the healthcare and life sciences sector with a dedicated private equity platform.


Fund I was oversubscribed, hitting its hard cap of $275 million through strong support from a global investor base including leading insurance companies, pension funds, asset managers, fund of funds, family offices and high net worth individuals.  “We thank our investors for the partnership and confidence they have placed in us and are excited to capitalize on the attractive investment opportunities and value-creation capabilities NovaQuest brings to the market”, said the leadership team of NovaQuest Private Equity.


Fund I started investing in March 2018 and has made three platform investments and two add-on acquisitions to date: Azurity Pharmaceuticals, a leading provider of drug delivery technology solutions that provide patients access to customized dosage forms; Clinical Ink, a provider of eClinical services and technologies, including eSource, ePRO, eCOA, among others; and Catalyst Clinical Research, a provider of outsourced clinical services for clinical trials.


NovaQuest Private Equity targets growth-oriented opportunities that help reduce the total cost of care, meet unmet medical needs, reduce unnecessary procedures, improve efficacy (therapeutics or prevention) and / or improve the quality of life.  With a dedicated private equity effort, NovaQuest can continue to partner with top tier management teams, providing them with strategic capital and best in-class operational resources.  NovaQuest’s strategic partners, Operating Advisory Board, and deep industry network differentiates the Firm with powerful value creation capabilities for middle market healthcare companies.


The partners of NovaQuest Private Equity commented:

“We are grateful for all the support we have received in achieving this great milestone to create a differentiated specialists investor in the healthcare and life sciences sector and in successfully raising our first dedicated private equity fund.  From the beginning the Firm’s founders, Dennis Gillings, Ph.D, CBE and Ron Wooten, shared a vision with our team and they laid the foundation for the Fund’s creation with their invaluable support through their cornerstone, healthcare expertise and extensive networks.  Dr. Gillings, Ron, and our team have been joined by our industry advisors and the institutions who have invested in the Fund.”


Eaton Partners, one of the world’s leading private capital advisory and fund placement firms and a wholly owned subsidiary of Stifel Financial Corp. (SF), acted as exclusive placement agent and fundraising advisor.


About NovaQuest Capital Management, L.L.C.

NovaQuest Capital Management is a leading investor in life sciences and healthcare through our Product Finance and Private Equity strategies.  NovaQuest was formed in 2000 with the vision of building an investment platform to provide strategic capital to life sciences and healthcare companies.  Today, NovaQuest Capital Management manages over $2.5 billion through its Product Finance and Private Equity strategies. The investment team consists of highly seasoned professionals with significant operating and investment experience and deep life science and healthcare expertise.  Furthermore, NovaQuest benefits from an extensive network of industry experts and relationships that assist in identifying, analyzing and growing portfolio companies and investments.  For more information, please visit