Zenyth Partners, a healthcare-focused private equity firm focused on consumer-facing and technology-enabled healthcare services, has closed its continuation fund.
The continuation fund is composed of both secondary and capital commitments, co-led by funds managed by BlackRock and Manulife Investment Management with support from Newbury Partners, which funded the purchase of minority stakes in three portfolio companies (the sale portfolio) from Zenyth Partners LP, a 2018 vintage permanent capital vehicle: the Smilist Management, ReFocus Eye Health and Helping Hands Family. The transaction will provide Zenyth’s evergreen fund with new capital for investment opportunities while raising additional capital in the continuation fund to support the growth of the sale portfolio.
“This transaction not only marks a new chapter of growth for our companies, but also for Zenyth,” says Sean Hayes, partner of Zenyth. “We look forward to deploying additional capital across the current companies and new platform investments, building our investment and operations teams and scaling our platform.”
Jefferies served as financial advisor, with Debevoise & Plimpton serving as Zenyth’s legal counsel. Akin Gump acted as legal counsel for the lead investors.