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Cinven’s healthcare principal
Matt Norton told Private Equity International’s
sister title Private Healthcare Investor
this week that his firm’s move from “asset-heavy” healthcare services, towards
“asset-light” medtech and pharmaceutical firms, can give it an edge over more generalist rivals.
Cinven, whose sixth fund is
nearing a €7 billion close, has invested around 30 percent into healthcare
across its last two vehicles, as part of a wider trend where vehicles focused
exclusively on the sector have gathered increasing levels of interest,
according to data from PEI Research & Analytics.
Largely resistant to
macroeconomic instability, healthcare-focused funds are seen as a stable
investment, particularly at a time when some fear the approach of an economic
In 2015, $8.54 billion was
raised from the close of 24 vehicles, more than double a year earlier in terms
of capital and funds.
Frazier Healthcare Growth
Buyout Fund VIII is the largest private equity healthcare-focused vehicle to
have held a final close in 2016 to date, collecting $542.61 billion in March.
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