Key Takeaways
- • Consonance Capital Partners closed Consonance Private Equity III with $1.35 billion in commitments, reaching the fund's hard cap, according to HedgeCo.Net.
- • The final close came after just under four months in market, and the firm described the process as heavily oversubscribed.
- • Fund III will pursue U.S. lower and middle market healthcare companies across growth equity, leveraged buyouts, carve-outs, recapitalizations and special situations.
- • The investor base includes existing limited partners plus a select group of new investors, among them endowments and foundations, pension plans and financial institutions.
- • Monument Group served as global placement agent and Latham & Watkins as legal counsel.
Summary
Consonance Capital Partners, a New York-based private equity firm focused on U.S. healthcare, has closed its third flagship fund, Consonance Private Equity III, with $1.35 billion of commitments, according to HedgeCo.Net. The final close was reached at the fund's hard cap after just under four months in market, a process the firm characterized as heavily oversubscribed.
Consistent with its predecessor funds, Fund III will invest in U.S. healthcare companies in the lower and middle market. The firm emphasizes businesses that drive efficiency, cost containment and high-quality patient care. Its strategy spans growth equity, leveraged buyouts, carve-outs, recapitalizations and special situations.
The fund drew strong support from Consonance's existing limited partners and added a select group of new investors. The investor base includes endowments and foundations, pension plans and financial institutions. Monument Group served as global placement agent, and Latham & Watkins acted as legal counsel.
In a statement, the firm's managing partners thanked limited partners and portfolio company management teams. They said the pace of the raise reflected investor confidence in the team, strategy and results, and that the team remains focused on partnering with management teams building businesses that add sustainable value to the healthcare system.
The rapid raise stands out in a fundraising market where many managers are spending far longer on the road. It suggests limited partners remain willing to concentrate commitments with specialist managers that have a defined sector focus and a track record of returning capital, even as overall capital formation stays selective.
Consistent with its predecessor funds, Fund III will invest in U.S. healthcare companies in the lower and middle market. The firm emphasizes businesses that drive efficiency, cost containment and high-quality patient care. Its strategy spans growth equity, leveraged buyouts, carve-outs, recapitalizations and special situations.
The fund drew strong support from Consonance's existing limited partners and added a select group of new investors. The investor base includes endowments and foundations, pension plans and financial institutions. Monument Group served as global placement agent, and Latham & Watkins acted as legal counsel.
In a statement, the firm's managing partners thanked limited partners and portfolio company management teams. They said the pace of the raise reflected investor confidence in the team, strategy and results, and that the team remains focused on partnering with management teams building businesses that add sustainable value to the healthcare system.
The rapid raise stands out in a fundraising market where many managers are spending far longer on the road. It suggests limited partners remain willing to concentrate commitments with specialist managers that have a defined sector focus and a track record of returning capital, even as overall capital formation stays selective.
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