Avista has established itself as a premier healthcare investor with a 20+ year track record of investing in and building leading products and technology focused healthcare businesses
NEW YORK, March 1, 2024 – Avista Capital Partners (“Avista” or “the Firm”), a leading New York-based private equity firm focused exclusively on healthcare, today announced the final closing of Avista Healthcare Partners VI (“Fund VI” or the “Fund”) at $1.5 billion. The Fund, which significantly exceeded its $1.25 billion target, represents one of the largest pools of private capital focused on investments across high-growth middle-market product and technology healthcare companies in North America and Europe.
Fund VI is a continuation of Avista’s successful strategy, leveraging the Firm’s deep domain knowledge and expertise, driving value creation and growth in product and technology healthcare businesses. Avista features a highly experienced team of more than 30 professionals, including dedicated strategic operating executives with vast operational expertise at some of the world’s leading healthcare companies.
David Burgstahler, Chief Executive Officer of Avista, said, “We are greatly appreciative of the overwhelming support from our existing limited partners and our new investors. The closing of Fund VI is an endorsement of our long-held strategy of identifying and accelerating growth-oriented healthcare businesses with strong secular tailwinds. It also firmly recognizes the strong alignment of interest with our investors and Avista’s unique ability to consistently generate outsized performance regardless of market dynamics. With a compelling pipeline of investment opportunities and an incredible Avista team, we look forward to driving growth and building lasting value in partnership with our investors, managers, employees and portfolio companies.”
Avista’s founders and partners have been investing together for decades, having established a differentiated track record across multiple business cycles and the Firm’s core healthcare sub-sectors (outsourced pharma & medtech services; consumer healthcare; medical devices; specialty & generic pharmaceuticals; distribution and diagnostics; and healthcare technology).
Amanda Heravi, Head of Investor Relations at Avista, said, “We thank all our limited partners for the confidence they have placed in our team, and the efficiency with which they made their commitments. We are honored to have raised a fund that is 25% larger than our prior fund, comprised of a diverse set of investors from leading public and private pension funds, university endowments and foundations, family offices, insurance companies and asset managers across North America, Europe, Asia and the Middle East.”
Fund VI is the third dedicated healthcare fund at Avista and has already made five healthcare platform investments.
Rede Partners acted as global fundraising agent and Kirkland & Ellis provided legal counsel for Avista.
About Avista Capital Partners
Founded in 2005, Avista Capital is a leading New York-based private equity firm with over $8 billion invested in more than 45 growth-oriented healthcare businesses globally. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects – targeting healthcare product and technology businesses with clear scale potential across six sub-sectors experiencing strong tailwinds. The team is supported by a group of seasoned Strategic Executives enhancing the entire investment process through strategic insight, operational oversight and senior counsel, which helps drive growth and performance, while fostering sustainable businesses and creating long-term value for all stakeholders. For more information, visit www.avistacap.com.
Note: With the final closing of the fund, Avista now ceases any further fundraising activities for Avista Healthcare Partners VI, L.P. in Germany and, accordingly, intends to de-notify the existing marketing authorization for this fund.