- Schuppan joined Cressey in 1999 as an associate
- Cressey’s fifth fund raised $615 mln in 2014
- Cressey makes control investments in healthcare companies
David Schuppan has left Cressey & Co after nearly 18 years.
In a Sept. 9 email to “friends and colleagues” that announced his departure, Schuppan did not disclose why he “decided to step away” from the healthcare-focused PE firm. In the email, obtained by Buyouts, he thanked the management teams and co-investors of several Cressey portfolio companies.
“I’m very grateful to have spent the past [nearly] 18 years working with the Cressey team and have been equally fortunate to have had the opportunity to work with so many talented management teams, investors and advisers — all of whom are helping change the face of our nation’s healthcare system for the better, generating superior returns for our limited partners and having fun in the process,” Schuppan said in the message.
A Cressey spokeswoman confirmed Schuppan’s departure and declined further comment. Schuppan could not be reached.
Schuppan joined Cressey in 1999 as an associate. He was a partner when he left, an Internet-archived version of the firm’s website said. His LinkedIn profile said he was also a member of both Cressey’s Investment Committee and the firm’s founding team.
Schuppan lists his current title on LinkedIn as private equity investor. Cressey & Co is shown under previous experience. He no longer appears on the Cressey site.
Chicago- and Nashville-based Cressey & Co makes control investments in healthcare companies with enterprise values of $50 million to $300 million. The firm has raised two funds since it spun out from the former Thoma Cressey Bravo in 2008. In 2014, Cressey Fund V closed at $615 million.
Cressey and Harvest Partners recapitalized VetCor Group Holdings in April. The firm acquired Dental Services Group in March. And in January U.S. Renal Care, a portfolio company, closed its $640 million merger with DSI Renal.
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