Healthcare PE Shops Find Fundraising Success
Fundraising may be hard right now, but a few PE firms in the healthcare space are experiencing success. Chicago-based Linden LLC, for example, recently closed its second fund with $375 million. The fund was oversubscribed and exceeded its $300 million target. Another area firm, RoundTable Healthcare Partners is raising up to $600 million for its third fund, and sources tell me that it should have little trouble hitting its numbers. Linden's and RoundTable's experiences come as global fundraising in second quarter dropped to its lowest point in second quarter since 2003. RoundTable has had four exits from its first fund, each of which generated a return of 5x the cash invested or greater, peHUB has learned. This includes December's sale of Ascent, which the firm says generated an 8.3x return upon its sale to Stryker Corp.
