Persistence Capital Partners’ Fund II Raises $90M in First Close

Canadian private equity firm Persistence Capital Partners, which focuses on healthcare-related opportunities, has raised $90 million in the first close of its second fund, Persistence Capital Partners II LP. Commitments to the fund, targeted for $225 million, came mainly from Canadian institutional investors. PCP II will provide growth capital and undertake buyouts, re-caps and consolidations involving healthcare companies with between $5 million and $50 million in revenues.


Persistence Capital Partners Announces First Close of Fund II

– Raises over $90 million in 1st Closing of targeted $225 million Fund II following on success of high-performing Fund I –

Montreal May 22th, 2013 – Persistence Capital Partners (“PCP”), a private equity fund exclusively focused on high-growth opportunities in the healthcare field, is pleased to announce that it has completed a first closing of Persistence Capital Partners II, L.P. (“PCP II”), with commitments of over $90 million mainly from leading Canadian institutional investors.

“We are extremely pleased to announce this initial close of our second fund, with an amount that has already exceeded the total size of our 2008 vintage Fund I,” commented PCP Managing Partner, Stuart M. Elman. “Moreover, we are privileged to welcome back virtually of all of our core LPs from Fund I.”

PCP II will continue its successful investment strategy of investing principally in Canadian healthcare growth opportunities, providing entrepreneurs with growth capital, supporting buyouts, recapitalizations and consolidations. PCP II is focused on investments in a wide range of healthcare businesses with between $5-$50mm of revenues, and is targeting a total fund size of $225mm.

This first close marked the return of the overwhelming majority of Fund I LPs and the addition of several key new institutional LPs. “This level of support and commitment by Canadian LPs to a healthcare-only private equity fund represents a significant validation of our model, our market, and most notably our performance in Fund I,” commented PCP Managing Partner, Lloyd M. Segal. “We deeply appreciate the confidence our LPs have shown in us as managers.”

About Persistence Capital Partners
Persistence Capital Partners is a private equity fund exclusively focused on high-growth opportunities in the healthcare field. With deep healthcare industry expertise, PCP aims to create significant long-term capital appreciation for its investors by identifying and developing attractive investment opportunities in the Canadian healthcare market.

Persistence Capital Partners
Stuart M. Elman
Managing Partner / Associé directeur
Loyd M. Segal
Managing Partner / Associé directeur

T: (514) 687-2600

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