Archean Capital Partners (Archean), a private market investment platform established by Veritable, and Moelis Asset Management, has made a USD100 million anchor capital commitment from Archean Capital Partners I, to a fund advised by Petrichor Healthcare Capital Management LP (Petrichor).
In addition to initial capital, Archean is providing operational support to Petrichor which is led by Tadd Wessel. Mr. Wessel has over 19 years of experience in healthcare finance.
“We are very pleased to have completed this investment for Archean’s first special purpose vehicle. Archean’s mandate is to create early access for our investors to high-quality managers. We believe that Tadd’s experience and focused strategy combine to create a unique investment opportunity. We look forward to continuing our support for Petrichor and to identifying additional opportunities for Archean’s investors,” said Michael Stolper, Founder and CEO of Veritable.
“We are thankful to Archean for their partnership and support,” says Wessel.
“Archean’s capital and expertise provide managers like Tadd with a springboard from which to launch their firms. The completion of Archean’s first investment is a testament to the value of this unique platform and we look forward to successfully identifying new managers and opportunities,” says Chris Ryan, Managing Director of Moelis AM.
Archean seeks to partner with managers across a broad range of strategies including buyout, turnaround/restructuring, growth, credit opportunities, and real estate. As part of Archean’s seed investment of capital in newly launched funds, Archean seeks to provide its investors returns generated on both invested capital and revenue sharing from the new investment manager’s business.
