Havencrest Capital Management, a private equity firm focused on healthcare, has closed its second private equity fund. Fund II is oversubscribed and closed at its hard cap of $356 million, exceeding its $300 million target.
Fund II will focus on investing in American healthcare companies. New investors contributed about $200 million and Fund II’s re-up rate is 110 percent. Fund II included numerous blue-chip institutional investors, including university endowments, pension funds, as well as international investors. With the closing of Fund II, Havencrest now has over $600 million in assets under management.
Christopher Kersey, founding managing partner of Havencrest said, “We are grateful for the tremendous support from our current and new limited partners, and we look forward to continuing to partner with leading entrepreneurs to build market-leading healthcare companies.”
Proskauer Rose LLP served as legal counsel. Havencrest did not use a placement agent.