NovaQuest Capital Closes $275 Million For Private Equity Fund

By Annie Baker ● November 28, 2019
  • Healthcare and life sciences focused private investment firm NovaQuest Capital Management has closed $275 million in total capital commitments for Fund I

NovaQuest Capital Management — a healthcare and life sciences focused private investment firm — announced recently that it closed $275 million in total capital commitments for NovaQuest Private Equity Fund I, L.P. (“Fund I”). Fund I is going to continue NovaQuest’s focus on investing in and building leading services and technologies in the healthcare and life sciences sector with a dedicated private equity platform.

Fund I was oversubscribed and it hit a hard cap of $275 million through strong support from a global investor base, including leading insurance companies, pension funds, asset managers, fund of funds, family offices and high net worth individuals.

“We thank our investors for the partnership and confidence they have placed in us and are excited to capitalize on the attractive investment opportunities and value-creation capabilities NovaQuest brings to the market”, said the leadership team of NovaQuest Private Equity. “We are grateful for all the support we have received in achieving this great milestone to create a differentiated specialists investor in the healthcare and life sciences sector and in successfully raising our first dedicated private equity fund. From the beginning the Firm’s founders, Dennis Gillings, Ph.D, CBE and Ron Wooten, shared a vision with our team and they laid the foundation for the Fund’s creation with their invaluable support through their cornerstone, healthcare expertise and extensive networks. Dr. Gillings, Ron, and our team have been joined by our industry advisors and the institutions who have invested in the Fund.”

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Fund I started investing in March 2018 and it made 3 platform investments and 2 add-on acquisitions so far: Azurity Pharmaceuticals (leading provider of drug delivery technology solutions that provide patients access to customized dosage forms), Clinical Ink (provider of eClinical services and technologies), and Catalyst Clinical Research (provider of outsourced clinical services for clinical trials)

NovaQuest Private Equity targets growth-oriented opportunities to reduce the total cost of care, meet unmet medical needs, reduce unnecessary procedures, improve efficacy, and improve the quality of life. And with a dedicated private equity effort, NovaQuest can continue to partner with top tier management teams, providing them with strategic capital and best-in-class operational resources. Plus NovaQuest’s strategic partners, Operating Advisory Board, and deep industry network differentiates the firm with powerful value creation capabilities for middle market healthcare companies.

Eaton Partners, a leading private capital advisory and fund placement firm and a wholly-owned subsidiary of Stifel Financial Corp., acted as the exclusive placement agent and fundraising advisor.