Frazier Healthcare Partners has held the closing of Frazier Healthcare Growth Buyout Fund VIII at its hard cap of USD525 million.
This oversubscribed fund, which is run out of the firm’s Seattle office, represents Frazier Healthcare Partners’ first dedicated growth buyout vehicle focused exclusively on profitable healthcare companies in the lower middle market. The offering garnered strong support from existing and select new limited partners, which represent some of the most prestigious endowments, public/private pension funds and financial institutions globally.
“We are appreciative of the continued support from our existing limited partners and pleased to selectively add a few new blue chip investors,” says Nader Naini, managing general partner at Frazier Healthcare Partners. “The team is particularly gratified that this world-class investor group recognised our rich, 25-year history of developing category-leading healthcare companies in the lower middle market.”
The growth buyout team will continue to leverage its well-developed, broad network to identify and partner with seasoned healthcare executives to acquire and rapidly grow companies. This proven operating partner-centric investment strategy will be executed by an experienced leadership team, who have an average tenure of more than 15 years with the firm, and a group of executive partners, associates and senior advisors all with deep healthcare domain expertise. Investments typically take the form of thesis-driven buyouts, recapitalisations or corporate carve-outs of companies with between USD5 million and USD40 million of EBITDA in selectively targeted healthcare sectors. Notably, the firm has collaborated with its operating partners to develop category-leading companies with EBITDA in excess of USD100 million in the subsectors of managed care (Bravo Health), dialysis clinics (DSI Renal, Inc.) and pharma services (PCI Pharma Services).
