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Latest News  + Alternative Assets  + Private Equity  | 
Varsity Healthcare Partners Closes Fourth Fund at $700M

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 for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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