Two Irving Place Capital employees have spun off to form their own private equity firm, Harbour Point Capital, which will focus on health care investments.
Robert Juneja (left) and Bret Bowerman (right) co-founded the new firm, which is headquartered in New York.
Juneja was previously a senior managing director and head of Irving Place's health care sector, while Bowerman was a principal for the health care sector. Juneja and Bowerman will become senior advisers to Irving Place Capital, and will continue serving on the boards of Irving portfolio companies National Surgical Hospitals and Universal Hospital Services. New York-based Irving primarily invests in retail, consumer, industrial and packaging companies.
Harbour Point plans to fund investments on a deal-by-deal basis initially.
The news falls in line with Mergers & Acquisitions predictions that private equity firms will become more specialized in 2015. For more, see PE Firms Will Become More Specialized.