Varsity Healthcare Partners Fund III raises $417 mln

Varsity Healthcare Partners said Aug. 28 that its third private equity fund closed on its $417 million hard cap. Varsity Healthcare focuses on healthcare services, typically investing between $20 million to $60 million equity in deals. UBS Securities served as the placement agent, while Kirkland & Ellis acted as legal counsel to VHP.


Varsity Healthcare Partners Closes Third Private Equity Fund


LOS ANGELES and STAMFORD, Conn. – August 28, 2019 – Varsity Healthcare Partners (“VHP”), a leading lower middle-market private equity firm focused on healthcare services, announced today the final closing of Varsity Healthcare Partners III (“VHP III”) with total capital commitments of $417 million, hitting the hard cap and exceeding the Firm’s fundraising target in only five months.  This brings VHP’s total capital raised since the Firm’s 2014 inception to approximately $816 million.


VHP III will continue to execute the same lower middle-market strategy as prior funds, seeking to partner with founders, entrepreneurs and management teams to build leading healthcare provider and outsourced services platform companies. The firm aims to commit equity investments ranging from $20 million to $60 million and align incentives with its portfolio management teams.


UBS Securities served as the placement agent and Kirkland & Ellis served as legal counsel to VHP.


About Varsity Healthcare Partners


Varsity Healthcare Partners is a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading healthcare services companies. Varsity has been successful in developing and executing a tailored value creation plan, in partnership with the leadership of each company, that typically emphasizes an appropriate investment in infrastructure followed by an aggressive organic and acquisition growth strategy. Varsity draws upon its extensive healthcare industry experience and relationships, as well as its hands-on partnership approach to effectively drive growth and maximize value. For more information please visit:


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