Great Point Partners Closes $306 Million For GPP III Growth Buy-Out Fund

By Dan Anderson ● August 19, 2019
  • Leading health care investment firm Great Point Partners announced it closed the growth buy-out fund Great Point Partners III, L.P. (“GPP III”) at its hard cap of $306 million.

Great Point Partners — a leading health care investment firm — has announced the closing of the growth buy-out fund Great Point Partners III, L.P. (“GPP III”) at its hard cap of $306 million. GPP III was oversubscribed and surpassed its target of $250 million.

GPP III is going to continue Great Point’s strategy of investing in growing and profitable health care companies that are led by management teams focused on achieving accelerated and sustainable growth. And GPP III has already made three investments (representing approximately 30% of committed capital), all in growing pharmaceutical services companies.

“We are pleased to announce our final close,” said Jeffrey Jay, M.D., — the Co-Founder and Managing Director of Great Point Partners. “We were gratified to receive strong support from both our existing investors, many of whom have been invested with us since the inception of our private equity strategy in 2005, and a select group of new leading institutional limited partners.”

GPP III’s Limited Partners include leading endowments, foundations, family offices, banks, and pension funds. And the investment professionals and CEO Advisory Board at Great Point made a significant personal commitment to GPP III, approximately 8% of GPP III’s committed capital.

“We see this success as a clear endorsement by our investors of our growth buy-out and growth recapitalization investing model, pro-active sourcing strategy and deep health care expertise,” added Great Point Partners co-founder and managing director David Kroin.

Great Point’s executives also include Adam Dolder (Managing Director), Brett Erkman (Managing Director), Noah Rhodes (Managing Director), Rohan Saikia (Managing Director), Tavi Yehudai (Managing Director), Ning (Jerry) Yang, PhD, CFA (Principal), Bret Tenenhaus (Vice President), and Winston Chang (Vice President).

Based in Greenwich, Connecticut, Great Point Partners has approximately $1.8 billion of equity capital currently under management and 28 professionals. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to over 100 growing health care companies.

Morrison Cohen LLP had acted as legal counsel for GPP III.