RoundTable Healthcare Partners said Wednesday it closed its fourth equity fund with $650 million in commitments, while its third captive subordinated debt fund collected $200 million. Lake Forest, Illinois-based RoundTable, a healthcare focused PE firm, said it added four new partners. Pierre Frechette and Thomas Kapfer, CEOs of existing RoundTable portfolio companies, were named Senior Operating Partners. Richard Adloff, the CFO of three RoundTable portfolio companies, was named an Operating Partner, while Andrew Hochman, previously a Principal, was promoted to Partner.
LAKE FOREST, Ill., Sept. 2, 2015 /PRNewswire/ — RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today the closing of its fourth equity fund totaling $650 million(“Fund IV”) and its third captive subordinated debt fund of $200 million (“Capital Fund III”). RoundTable closed its first equity fund of$400 million in March 2002, its second equity fund of $500 million in March 2005, and its third equity fund of $600 million in July 2010. The first two capital funds totaling $400 million were closed in July 2006 and July 2010.
Since its inception in 2001, RoundTable’s objective has been to generate superior investment returns by capitalizing on the healthcare industry insight and relationships, and operating and transactional expertise of the firm’s partners and principals. To further advance this objective and with the closing of Fund IV, RoundTable welcomed four new partners to the firm. Pierre Frechette and Thomas P. Kapfer, CEOs of existing RoundTable portfolio companies, will serve as Senior Operating Partners and focus on the identification of new investment opportunities and oversee the operational performance of the new Fund IV companies. Richard C. Adloff, the Chief Financial Officer of three RoundTable portfolio companies, was named Operating Partner and will lead the firm’s finance function. Andrew B. Hochman was promoted to Partner and will play an expanded role sourcing pharmaceutical related opportunities.
“Our strategy continues to produce strong deal flow and investment returns,” said Lester B. Knight, one of the firm’s Founding Partners and Chairman of RoundTable’s Management Committee. “Equity Fund IV and Capital Fund III will allow us to continue our strategy of investing in healthcare companies that can benefit from our strong operating focus. We thank all of our limited partners for their support and commitment.”
Davis Polk & Wardwell served as legal advisor to RoundTable for the fund raising efforts. RoundTable did not use a placement agent.
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs, and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable has raised $2.75 billion in committed capital, including four equity funds totaling $2.15 billion and three-subordinated debt funds totaling $600 million.