Consonance Capital Partners hits USD856m hardcap for healthcare fund
New York-based healthcare private equity firm Consonance Capital Partners has held a final close of Consonance Private Equity II at its USD856 million hardcap.
Fund II, which will focus on investments in US healthcare companies in the lower and middle markets, closed on 8 April 2020 at its hard cap in under three months from its initial close.
The fund received support from existing investors as well as from a select number of new limited partners.
Investors in the fund include insurers, endowments, foundations, family offices, asset managers, funds of funds, pension plans, and strategic healthcare providers in the US and Europe.
Monument Group served as global placement agent, while Latham & Watkins LLP provided legal counsel.
Commenting on the close of Fund II, the firm’s managing partners and co-founders Mitchell Blutt, Benjamin Edmands, Stephen McKenna, and Nancy-Ann DeParle, say: “Our team will continue to be highly focused and disciplined as we look at investment opportunities that provide high-quality care and where we believe we can help businesses grow and succeed through our strategic advice, operating expertise, extensive relationships and prudent financial management.
“We formed Consonance Capital Partners with the goal of partnering with world-class management teams, and we also want to thank them for their consistent commitment to providing high quality care – which has led to a strong value proposition for all of our stakeholders, including patients, clinicians, and payors.”