Cleveland-based Primus Capital Partners has announced it has completed a final closing on Primus Capital Fund VI with investor commitments totalling USD275m, beating the fund’s target of U
Cleveland-based Primus Capital Partners has announced it has completed a final closing on Primus Capital Fund VI with investor commitments totalling USD275m, beating the fund’s target of USD250m.
William Blair Funds Placement Group acted as placement agent for the sixth Primus fund, whose investors include public pension funds, banks, insurance companies, funds of funds and family offices.
Primus VI will continue the strategy of its predecessor funds, making equity investments in established, high-growth companies in the health care, business services and education industry sectors. Transaction types considered include growth equity financings, recapitalisations and management-led buyouts.
Primus VI has already made commitments to five companies: Healthcare Management Systems, a provider of integrated hospital information systems; Laboratory Partners, a provider of clinical diagnostic testing services; American Institutes, a provider of post-secondary education courses in health care, business and technology; PartsSource, an alternative parts supplier to the health care industry; and Passport Health Communications, a provider of revenue cycle management services to hospitals and other health care institutions.
Since its establishment in 1983, Primus has invested in over 100 companies and currently manages a portfolio of 21 companies.
