Chicago-based Water Street Healthcare Partners announced Tuesday that it has closed a $750 million private equity fund focused on the healthcare industry.
It is the firm’s third fund and is greater than the $650 million it originally intended to raise when the firm began raising the money in early June. Including the $750 million, Waters Street has $2 billion under management. It plans to invest anywhere between $50 million to $500 million in four healthcare segments: medical and diagnostic products and devices, specialty distribution, outsourced healthcare services and specialty pharmaceutical products and services.
One investor is Allianz Capital Partners while others are domestic and international pension funds, endowments and financial institutions, most of whom were previous investors, according to the news release.
“We are very pleased with the value Water Street has built in its group of healthcare companies and the strong results its team has achieved over the past six years,” said investment director Brian Welker, Allianz Capital Partners, an investor in Water Street since 2006.
Water Street has completed 30 mergers and acquisitions, according to the news release, and has worked with the likes of Johnson & Johnson and Medtronic.
