NovaQuest Capital Management held a final closing of NovaQuest Private Equity Fund I at a $275 million hard cap. Capital raised by the fund will be used to invest in healthcare and pharmaceutical companies throughout North America.
Fund I received commitments from several limited partners including family offices, asset managers, pensions and insurance companies. The vehicle received a commitment of $40 million from New Mexico Educational Retirement Board in January 2019.
Founded in 2000, NovaQuest is a Raleigh-based private equity firm that targets investments in the healthcare and life sciences sectors. Eaton Partners acted as a placement agent for Fund I.