Frazier Healthcare Partners closes 10th fund on USD1.4bn

Healthcare investing

Frazier Healthcare Partners has closed Frazier Healthcare Growth Buyout Fund X, its 10th healthcare private equity fund focused on the middle market, a vehicle which was oversubscribed and hit its USD1.4 billion hardcap. 

The capital came in from new as well as existing limited partners, including public pension funds, financial institutions, foundations and endowments, family offices, corporate pensions and sovereign wealth funds from investors based in the US, Europe, the Middle East and Asia. 
 
“Our three decades of focusing on the healthcare industry, breadth and depth of our ecosystem and team resonated with both new and existing investors,” comments Ben Magnano, co-managing partner at Frazier.  

Founded in 1991 and based in Seattle, Frazier Healthcare Partners – with the addition of FHGB X – has more than USD6.2 billion of total capital. Its recent investments include the corporate carveout of MedData from Mednax, a provider of technology-enabled revenue cycle management services for hospitals, health systems and healthcare providers, in October 2019. 

In December 2020, Frazier acquired a 50 percent stake in CSafe Global, an Ohio-based provider of cold chain shipping and air cargo solutions to the life science and pharmaceutical industries. 

Some of the firms' recent exits include the December 2020 sale of PCI, a leading pharmaceutical and biopharmaceutical global supply-chain solutions provider to Kohlberg and Mubadala in a USD3.0+ billion transaction, and Northfield, a provider of operating room instrument, scope and power system repair services was sold to Agiliti in March 2021 for USD475 million.