– Hildred Capital Management, a lower middle-market healthcare private equity firm, announced the final closing of its third fund, Hildred Equity Partners III.
– The Fund was significantly oversubscribed, exceeding its $600 million target and reaching its hard cap in seven months.
– Total capital commitments exceeded $800 million, more than double the size of its predecessor fund, Hildred Equity Partners II, which closed in 2021 with $363 million.
– The Fund received strong support from a global group of new and existing investors, including public pension plans, insurance companies, financial institutions, endowments, private wealth and financial services platforms, family offices, and high-net-worth individuals.
– Hildred’s General Partners and affiliated entities committed over $60 million of capital alongside limited partners.
– Co-Founders and Managing Partners Andrew Goldman and David Solomon expressed gratitude for investor support, emphasizing the firm’s ability to leverage expertise to create enduring value in the healthcare ecosystem.
– Hildred focuses on healthcare subsectors such as pharmaceutical and OTC products, care delivery services, medical devices, life science tools and diagnostics, outsourced pharmaceutical services, healthcare IT, and tech-enabled services.
– The firm remains committed to improving patient outcomes, expanding access to care, and reducing costs by pursuing control-oriented transactions in outstanding healthcare companies.
– Evercore Private Funds Group served as the lead global placement agent for the Fund, and Kirkland & Ellis provided legal counsel.
– Alexander Russ, Head of North America at Evercore Private Funds Group, highlighted the strong support from new investors as a testament to Hildred’s reputation in healthcare investing.
– Hildred Equity Partners III will begin deploying capital in Q1 2025 and is actively evaluating new investment opportunities.
