Avista eyes $2bn for third fund

The firm finished deploying its $1.8bn second fund in June, completing three transactions in a five-day period.

Avista Capital Partners has officially registered its third fund with the US Securities and Exchange Commission, targeting $2 billion, according to documents obtained from the SEC.

Avista, which targets investments in the healthcare, media, industrial and energy sectors, could not be reached for comment.

The documents, which are dated 29 July, indicate that Mercury Capital Advisors, Equus Financial Consulting and Eaton Partners will work as placement agents and advisors for the fund. It does not appear from the filing the fund has collected any commitments.

The firm was founded in 2005 as a spinout from Credit Suisse First Boston. Limited partners in its previous two funds include New York City Employees' Retirement System, the New York City Police Pension Fund, the Teachers’ Retirement System of the City of New York and the North Carolina State Treasury. 

In June, Avista completed three acquisitions in five days to fully deploy its $1.8 billion second fund. The firm purchased a controlling stake in Sidewinder Drilling for $125, as well as Dallas-based data center operator DataBank Holdings and door refrigeration manufacturer Anthony International.