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Latest News  + Alternative Assets  + Private Equity  |  July 6, 2023
Varsity Healthcare Partners Closes Fourth Fund at $700M
Joe Palmisano
By: Joe Palmisano

Varsity Healthcare Partners Closes Fourth Fund at $700M

Lower middle market private equity firm Varsity Healthcare Partners closed its fourth fund – Varsity Healthcare Partners IV – at $700 million, beating its hard cap of $650 million.

The fund is already investing, having recently funded VHP’s strategic growth investment in outsourced biopharmaceutical consulting firm Beghou Consulting.

The firm raised $417 million for the final close of its third flagship fund in 2019, $240 million for its debut fund in 2014 and followed that with a $300 million sophomore raise in 2017.

The latest fund is running a buy-and-build strategy, prioritizing platform investments in clinically differentiated healthcare providers as well as businesses offering outsourced services or technology to healthcare providers and payers.

Evercore Private Funds Group served as the placement agent and Kirkland & Ellis served as legal counsel to VHP.

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Varsity Healthcare Partners

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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