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Avista Capital Partners Closes Fund V

Healthcare private equity firm Avista Capital Partners has closed Avista Capital Partners V, L.P. and Avista Capital Partners (Offshore) V, L.P. at $1.2bn, exceeding the target of $775mn. Capital Constellation, with whom Avista formed a strategic partnership during 2020, is one of the new investors in the fund.

Thompson Dean and David Burgstahler, Managing Partners and Co-Chief Executive Officers at Avista, said:

"We are very pleased with the reception of Fund V and are grateful for the support of our returning and new limited partners.  The strong closing of the Fund is an endorsement of our investment strategy, underpinned by many years of dedicated healthcare experience, the strength of our investment team, strong alignment of interest with our investors and Avista's ability to generate consistent returns.  The rising global demand for healthcare products and services will continue to present a host of compelling investment opportunities where our sector expertise can drive value creation and generate strong outcomes for our investors."

UBS acted as placement agent and Kirkland & Ellis provided legal counsel for Avista.

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