Zenyth Partners wraps up new continuation fund

The lead backers were BlackRock and Manulife Investment Management.

  • Another backer was Newbury Partners
  • Jefferies served as financial advisor to Zenyth with Debevoise & Plimpton serving as legal counsel
  • Akin Gump acted as legal counsel for the lead investors

Zenyth Partners has closed its new continuation fund. No financial terms were disclosed.

The lead backers were BlackRock and Manulife Investment Management. Another backer was Newbury Partners.

The fund includes stakes in The Smilist Management, a dental support organization, ReFocus Eye Health, an ophthalmology practice management company, and Helping Hands Family, a provider of applied behavioral analysis and related services to children impacted by autism spectrum.

The transaction will provide Zenyth’s evergreen fund with new capital to be opportunistically redeployed in new investment opportunities while raising additional capital in the continuation fund to support the continued growth of the sale portfolio

“This is a significant milestone for the Zenyth Partners franchise. We welcome the support of new blue-chip institutional partners,” said Rob Feuer, managing partner of Zenyth, in a statement. “We are proud of the performance of the Smilist, ReFocus and HHF, and we believe this transaction validates our operationally-focused model of building sustainable patient- and provider-centric healthcare businesses leveraging consumer and tech-enabled concepts to drive industry leading KPIs. We look forward to continue driving long-term value for all stakeholders with supportive new partners.”

Jefferies served as financial advisor to Zenyth with Debevoise & Plimpton serving as legal counsel. Akin Gump acted as legal counsel for the lead investors.

Zenyth Partners invests in healthcare.