Amulet Capital Raises $1.2B for 3rd Healthcare Fund
Amulet Capital Partners, LP, a middle-market private equity investment firm focused on the healthcare sector, closed its third oversubscribed fund, Amulet Capital Fund III, with approximately $1.2 billion in capital commitments.
The fund will continue Amulet’s strategy of collaborating with companies in high-growth subsectors of life sciences, including outsourcing, healthcare providers, and payor and payor services ecosystems, with investments ranging from $50 million to $150 million.
“We believe the unique – and often underinvested – subsectors we’ve identified represent significant opportunity for Fund III,” said Jay Rose, managing partner of Amulet. “We are excited to continue strategically deploying capital to help build best-in-class businesses and drive meaningful change and innovation for patients, physicians and the broader healthcare landscape across the country.”
The fund received funding from endowments, foundations, family offices, and pension funds, notably the Teacher Retirement System of Texas, which contributed $75 million. To date, Fund III has completed two platform investments: Alliance Clinical Network and Thinking + Assembly.
The Greenwich, CT and Walnut Creek, CA-based firm has now grown its total assets under management to about $2.7 billion. It has 12 platform investments and 34 add-on acquisitions. Amulet closed its debut fund at $300 million in 2016, followed by $650 million for its second fund in 2021.
Capstone Partners, a Mizuho Company, acted as exclusive placement agent for Fund III, and Kirkland & Ellis LLP acted as legal counsel to Amulet.