RoundTable Healthcare Partners has closed its third private equity fund with $600 million in capital commitments. It also closed its second subordinated debt fund with $200 million.
RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused exclusively on the healthcare industry, announced today the closing of its third equity fund totaling $600 million (“Fund III”) and its second captive subordinated debt fund of $200 million (“Capital Fund II”). RoundTable closed its first equity fund of $400 million in March 2002 and its second equity fund of $500 million in March of 2005. The first capital fund of$200 million was closed in July of 2006.
Since its inception in 2001, RoundTable’s objective has been to generate superior investment returns by capitalizing on the insight, industry relationships, and operating and transactional expertise of the firm’s partners and principals. To further advance this objective, the partnership is being expanded to support the growing investment activity of the firm. Joseph F. Damico and Lester B. Knight, two of the four Founding Partners, have been named Co-Chairmen. Jack L. McGinley will continue as Founding and Operating Partner. R. Craig Collister and T. Sands Thompson have been promoted to Senior Transaction Partners joining David J. Koo in these roles. James P. Stauner and James E. Utts have been promoted to Operating Partner. Todd E. Warnock continues as Founding Partner and Senior Advisor.
Leonard G. Kuhr will continue as Principal and Chief Financial Officer. Greg L. Baumli has been promoted to Operating Principal and Senior Vice President of Manufacturing, and Andrew B. Hochman has been promoted to Transaction Principal. Robert B. DeBaun and John W. McConachie will continue in their roles as Senior Vice President of Human Resources and Health Systems, respectively. G. Adam Hentze joins Joshua M. Saipe on the transaction team as Vice President.
“We are pleased our strategy has produced strong deal flow and investment returns,” said Mr. Knight. “Fund III and Capital Fund II will allow us to continue our strategy of investing in healthcare companies that can benefit from our strong operating and transaction focus. We thank all of our limited partners for their support and commitment.”
“Our approach is to partner with the owner/founders and management teams of our portfolio companies and to build on their strong foundations to accelerate their growth strategies,” said Joseph F. Damico. “We continue to invest in our firm’s resources and capabilities so we can add tangible value to our companies.”
Davis Polk & Wardwell served a legal advisor to RoundTable for the fund raising efforts. RoundTable did not use a placement agent.
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, based in 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 currently manages $1.9 billion in capital, including three equity funds totaling $1.5 billion and two subordinated debt funds totaling of $400 million. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.