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Great Point Partners Closes $215 Million Health Care Buy-Out Fund
Introduction
GREENWICH, CT — Great Point Partners, a leading health care investment firm focused on growth investing, today announced the closing of Great Point Partners II, L.P. (“GPP II”), a $215 million growth buy-out fund. This new fund is larger than the firm’s prior fund, GPP I which was $156 million and exceeds the firm’s $200 million fund raising target. GPP II, like Great Point’s prior fund will invest in lower middle market, growth health care companies.
“We are pleased to announce our final close,” said Jeffrey R. Jay, M.D., Managing Director of Great Point Partners. “This successful fundraise was driven by strong support from both existing and new investors in the United States, the United Kingdom and continental Europe. We see this success as a clear global endorsement by our investors of our growth buy-out and growth recapitalization investing model.”
GPP II’s Limited Partners include leading endowments, foundations, family offices, banks and pension funds. A significant number of the new investors are from outside of the United States. The firm held its final close of the fund without extension and above its original target, as planned.
According to Adam Dolder, Managing Director, “GPP II will continue to pursue a strategy the firm has followed for a decade – partnering with management teams to build market-leading health care companies through a combination of organic growth and the aggressive pursuit of accretive tuck-in acquisitions. While growth is always a core aspect of our investment theses, we add value by placing members of our CEO Advisory Board as Operating Chairmen or Lead Directors on portfolio company boards and by assigning a team to research, source and close tuck-in acquisitions.” The firm invests in most areas of health care with particular emphasis on the outsourcing sector, the pharmaceutical and biotechnology supply chain, health care information technology and devices and diagnostics.
“We believe that our strong track record and continuing ability to both make and exit investments that generate attractive rates of return, regardless of the difficulty of the economic cycle, is a testament to the firm’s focus on building durable companies that lower the cost of health care and enhance the efficiency in production and delivery, “ said David Kroin, Managing Director of Great Point Partners.
About Great Point Partners
Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm with approximately $700 million of equity capital under management and 23 professionals. GPP is currently making new private equity investments from GPP II, which has closed on $215 million in commitments. Great Point manages capital in private (GPP I, $156 million and GPP II) and public equity (BMVF, approximately $300 million) funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 health care companies. Both the private and public funds invest across all sectors of the health care industry including biologics and pharmaceutical infrastructure, devices and diagnostics, health care services, hospital outsourcing, information technology, specialty pharmaceuticals, and workers compensation. The firm pursues a proactive and proprietary approach to sourcing investments. Reach Great Point at 203.971.3300 www.gppfunds.com.
Media Contact
Ron Panzier, 203-971-3307 rpanzier@gppfunds.com