Friday, July 7, 2023

Varsity Healthcare Partners Raises $700M Fund

Los Angeles-based Varsity Healthcare Partners, a low middle-market private equity firm, says it has raised a $700M investment fund, Varsity Healthcare Partners IV. The company says it focuses on investments in healthcare services. The limited partners in the new fund included insurance companies, pensions, endowments, foundations, and sovereign wealth funds, according to the firm. The company said it had originally had a "hard cap" of $650M on the fund. Varsity Healthcare Partners said its placement agent on the fund was Evercore Private Funds, and it was advised by Kirkland & Ellis on legal matters.