A lower middle-market private equity sponsor with a strong track record of performance had reached an exciting inflection point in its growth.
A healthcare platform in the Sponsor’s second flagship fund had scaled materially through a buy-and-build strategy, achieving a double-digit multiple of invested capital to its investors, and was positioned for significant further growth. To capitalize on that opportunity while also providing a liquidity option to existing LPs, the Sponsor pursued a single-asset continuation vehicle. Capitalization of the CV included $200 million of unfunded commitments to continue the platform’s buy-and-build strategy.
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