|
Laxman Pai, Opalesque Asia: Patient Square Capital, founded by former KKR & Co. dealmaker Jim Momtazee, raised $3.9 billion for its debut fund, surpassing a $3 billion target.
The California-based healthcare-focused firm said in a press release that the fund, Patient Square Equity Partners (PSEP), is both the largest first-time private equity fund ever raised and the largest fund ever raised by a dedicated healthcare-focused private equity, growth equity, or venture capital firm.
Patient Square's total assets under management (AUM) is approximately $5.9 billion, including significant co-investment commitments from leading institutional investors.
"Patient Square invests broadly across the health care industry, including development-stage therapeutics; commercial-stage pharmaceuticals; medical devices, diagnostics, and life science tools; health care providers; and technology-enabled and other services," said the release.
"Earlier in my career, mentors of mine would advise that the work starts when a transaction closes. Never has that felt more apt than right now with our fund closing," said Mr. Momtazee, Managing Partner of Patient Square. "We have a tremendous amount of work in front of us, but without those that committed to our fund, there would not have been a beginning. We have deep gratitude for the opportunity and are working hard to reward that trust."
Since June 2021, Patient Square has deployed approximately $3 billion in equity capital, inclu...................... To view our full article Click here
|
RSS
