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Varsity Healthcare Partners Closes Fund IV at $700 Million, Exceeding Hard Cap

Business Wire
·2 min read

LOS ANGELES, June 30, 2023--(BUSINESS WIRE)--Varsity Healthcare Partners ("VHP" or "the Firm"), a lower middle-market private equity firm focused on healthcare services, today announced the final closing of Varsity Healthcare Partners IV ("VHP IV" or "the Fund") with total capital commitments of $700 million, exceeding the Fund’s designated hard cap of $650 million.

VHP IV attracted a diverse mix of U.S. and international institutional clients, including insurance companies, pensions, endowments, foundations, and sovereign wealth funds. The Fund is already actively investing, having recently funded VHP’s strategic growth investment in outsourced biopharmaceutical consulting firm, Beghou Consulting.

Consistent with previous fund vintages, VHP IV will continue to execute the Firm’s well-practiced, "buy and build" tactical value creation strategy, prioritizing platform investments in clinically differentiated healthcare providers as well as businesses offering critical outsourced services and/or technology to healthcare providers and payers.

Evercore Private Funds Group served as the placement agent and Kirkland & Ellis served as legal counsel to VHP.

About Varsity Healthcare Partners

Varsity Healthcare Partners (VHP) is a lower middle-market private equity investment firm focused on partnering with founders, entrepreneurs and management teams to build leading healthcare services companies. VHP’s tactical investment strategy emphasizes identifying and transacting with growth-seeking, provider-owned or founder-owned companies, leveraging VHP’s developed "buy and build" playbook to drive significant operational, managerial enhancement early in the life of each platform investment, followed by a well-resourced aggressive and multidimensional growth plan. VHP’s unique tactical investment playbook and strong track record is complemented by VHP’s distinct organizational culture, emphasizing highly collaborative engagement, strong professional accountability, and a commitment to excellence in work product and team performance.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230629058585/en/

Contacts

Mickey Mandelbaum or Julia Cohen
Prosek Partners
mmandelbaum@prosek.com / jcohen@prosek.com

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