Frazier Healthcare raises $525m fund

Private equity shop Frazier Healthcare Partners said yesterday that it raised a $525 million fund to invest in small healthcare companies.

The Seattle-based company, which has more than $2 billion in assets under management, said the subscribers include existing and new limited partners, which represent some endowments, public and private pension funds and financial institutions.

The new fund is the firm’s 1st to focus exclusively on profitable, lower-middle-market companies, Frazier said.

“The fund will leverage our broad network and deep knowledge of the space to identify and acquire rapidly growing, profitable healthcare companies,” managing general partner Nader Naini said.

“We are appreciative of the continued support from our existing limited partners and pleased to selectively add a few new blue chip investors,” Naini said in prepared remarks. “The team is particularly gratified that this world-class investor group recognized our rich, 25-year history of developing category-leading healthcare companies in the lower middle market.”

Material from Reuters was used in this report.

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