Hildred Capital Management – a lower middle-market healthcare private equity firm – announced the final closing of its third fund, Hildred Equity Partners III. This fund was significantly oversubscribed, exceeding its $600 million target and hitting its hard cap in seven months. With total capital commitments over $800 million, the fund represents more than double the size of its predecessor fund, Hildred Equity Partners II, which closed in 2021 with $363 million of capital commitments.
The fund received had strong support from a diverse group of both new and existing investors globally. And investors include public pension plans, insurance companies, financial institutions, endowments, private wealth and financial services platforms, family offices, and high-net-worth individuals. The General Partners of Hildred and their affiliated entities committed over $60 million of capital alongside the fund’s limited partners.
Hildred is committed to generating strong financial returns for its investors by tapping into secular growth opportunities across a range of subsectors in healthcare products and services, including commercial-stage pharmaceutical and OTC products, care delivery services, medical devices, life science tools and diagnostics, outsourced pharmaceutical and clinical services, and healthcare IT and tech-enabled services, as well as related businesses.
With industry knowledge and relationships, Hildred will pursue control-oriented transactions in outstanding healthcare companies. The focus will continue to be on building companies that add value to the healthcare system by improving patient outcomes, expanding access to high-quality care, and reducing costs.
Evercore Private Funds Group served as the lead global placement agent for the fund. And Kirkland & Ellis served as legal counsel.
KEY QUOTES:
“We are grateful for our existing investors’ continued partnership and the enthusiastic support we have received from new limited partners around Fund III. There are a significant number of compelling investment opportunities throughout the healthcare ecosystem, and we believe we are well positioned to leverage our firm’s strategic, operational, and financial expertise to help enhance performance and create enduring value.”
- Co-Founders and Managing Partners Andrew Goldman and David Solomon
“The overwhelming support from new investors speaks volumes about the caliber of the team at Hildred and the reputation they have built as a preeminent player in lower middle-market healthcare investing.”
- Alexander Russ, Head of North America at Evercore Private Funds Group
