Frazier Healthcare Partners, a Seattle-based healthcare-focused private capital firm, announced a passive and minority investment from Petershill at Goldman Sachs Alternatives. The terms of the deal were undisclosed.
Launched in 1991, Frazier Healthcare Partners has invested in over 200 companies over 34 years. And the firm recently closed its latest flagship fund, Frazier Healthcare Growth Buyout Fund XI, L.P. (FHGB XI), which was significantly oversubscribed, reaching a hard cap of $2.3 billion in limited partner commitments within six months.
Petershill specializes in minority investments in leading alternative asset managers. And the group targets well-established firms with strong track records and meaningful cash flow generation, supporting their growth across future fund and product offerings.
The passive minority investment will support the continued growth of the Frazier investment platform, enable increased investment by the general partner in existing and new funds, and develop strategic initiatives by affording greater balance sheet flexibility. The deal will not affect Frazier’s day-to-day management or investment approach.
Houlihan Lokey served as financial advisor to Frazier in connection with the deal. And Kirkland & Ellis served as legal advisor to Frazier. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal advisor to Petershill.
KEY QUOTES:
“Over the past three decades, we have been dedicated to building market-leading healthcare companies and delivering exceptional value to business owners and investors. We are excited to partner with Petershill, a recognized leader in global private capital markets. Their investment opens new doors globally and represents a significant milestone in the evolution of our platform at a time of immense opportunity.”
– Nader Naini, Co-Managing Partner at Frazier
“We are thrilled to partner with Frazier, one of the leading dedicated healthcare private equity platforms in the world. Frazier is a world-class institutional firm that possesses a remarkable depth of expertise, strong investment track record, differentiated value-creation capabilities, and a strategic industry network which gives us confidence in Frazier’s continued growth and success.”
– Ali Raissi-Dehkordy, global co-Head of Petershill at Goldman Sachs Alternatives
