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Great Point Partners Closes Fourth Health Care Growth Buy-Out Fund at $507 Million
Introduction
GREENWICH, CT – Great Point Partners, a global health care investment firm today announced the closing of its fourth lower middle market growth buyout fund, Great Point Partners IV (GPP IV), focused on rapidly growing health care companies in the United States, Canada and Western Europe. GPP IV, which closed at $507 million was significantly oversubscribed in four months of fundraising and closed at its hard cap.
“Great Point is unique in that we have a both a private and public fund strategy, enabling us to have a team of approximately 30 people dedicated to generating and sharing investment ideas across the full spectrum of the health care field, regardless of whether it is a private or publicly traded health care company. This concentration of talent working cooperatively gives us unique advantages. Since we were founded in 2003, our private funds have generated over a 4x gross multiple on realized and partially realized investments as of March 31, 2022,” said Jeffrey Jay, MD Founding Managing Director.
“Since GPP I, we have focused on lower middle-market health care investments in pharmaceutical services and products, health care information technology enabled services, medical contract manufacturing and health care services. We seek to create long-term value for our investors by maintaining a best-in-class proprietary sourcing program, partnering with the best entrepreneurs and investing in sectors with sustainable tailwinds of growth,” added Noah Rhodes Managing Director.
“GPP IV will target majority and at times minority investments in profitable companies generally with $1 to 10 million of EBITDA. We are pursuing the same strategy we pioneered two decades ago,” said Rohan Saikia, Managing Director. “We have had particular success helping US or European only companies become global companies with operations in multiple countries.”
“Obviously we are grateful for our investor support, especially in a hectic and crowded fundraising environment,” added Emily St. Thomas, Head of Investor Relations and Marketing for our private funds and our public life sciences fund, the BioMedical Value Fund. “We continued to diversify our investor base, particularly in Europe. We manage capital for some of the most sophisticated clients in the world. It is also gratifying from an Environmental, Social and Governance perspective that our firm is dedicated to improving the health and well-being of people across the globe.”
ABOUT GREAT POINT PARTNERS
Great Point Partners, founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with 30 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new minority and majority private equity investments from GPP IV, which has $507 million of committed capital. Great Point manages [$1.5B of] capital in its private funds and public life sciences equity strategy (BioMedical Value Fund). Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 200 growing health care companies. The private equity funds invest across all sectors of the health care industry with a particular emphasis on biopharmaceutical services and supplies, alternate site care, medical device and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies.
Past performance is not necessarily indicative of future results and there can be no assurance that any fund will achieve comparable results or avoid substantial losses. Etc.