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Laxman Pai, Opalesque Asia:

New York-based Consonance Capital (CCP) announced that its sophomore private equity fund was closed at its hard cap of $856 million.

The healthcare private equity firm said that consistent with its predecessor fund, Fund II will focus on investments in U.S. healthcare companies in the lower and middle markets. Its first PE fund closed on $500 million in 2014.

CCP's four Managing Partners and Co-Founders, Mitchell Blutt, Benjamin Edmonds, Stephen McKenna, and Nancy-Ann DeParle said in a joint press release: "We are very pleased to close our second fund at its hard-cap and want to thank our limited partners for their commitment to our firm. 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 intending to partner with world-class management teams, and we also want to thank them for their consistent commitment to providing quality care - which has led to a strong value proposition for all of our stakeholders, including patients, clinicians, and payors."

"And as we all manage through the COVID-19 pandemic together, our thoughts and prayers are with all who are suffering and have been impacted," they added.

Fund II closed on April 8......................

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