Private Equity News & Analysis

Great Point Partners raises $140m

The health and science sector- focused firm is targeting $200m for its second fund, which launched in 2011.

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Great Point Partners II has raised about $140 million, according to a document filed with the US Securities and Exchange Commission.

The 2011 vintage fund is targeting $200 million and will focus on growth and expansion capital investments in North American biotech and science sectors, according to Private Equity International’s Research and Analytics division. The investments will be between $7 million and $25 million, according to the firm’s website. Earlier this year, Great Point received a $35 million commitment from The Teachers’ Retirement System of Illinois, PEI previously wrote.
 
Great Point “doesn’t converse with reporters”, a spokesperson from the firm told Private Equity International Thursday.
 
The firm’s portfolio has included medical cost manager Health Systems International and orthopedic therapy company Pro PT, according to the website. 

Great Point’s debut fund, a 2006 vintage, raised $156 million, surpassing its $100 million target. The premier vehicle received a fund-of-funds commitment from Hatteras Investment Partners, PEI data disclosed.

Founded in 2003, Great Point is led by David Morrison, chairman of the firm’s chief executive officer advisory board. Morrison joined Great Point in 2005 and also is a partner at Lee Equity Partners, according to the firm’s website. Five managing directors also lead the Greenwich, Connecticut-based team.