Water Street hires VP from Avista

Katie Ossman left Avista Capital Partners in September and will work on sourcing new opportunities for Water Street’s $750m Fund III. 

Water Street Healthcare Partners has hired Katie Ossman as a vice president, according to a statement from the firm.

Ossman was most recently an associate at Avista Capital Partners and joined Water Street in September. She will work on sourcing new investment opportunities and developing strategic plans to expand Water Street’s group of healthcare companies. Ossman previously focused on healthcare, consumer and industrial investments at Avista. She began her career in investment banking at JP Morgan.

Chicago-based Water Street invests exclusively in the healthcare sector, including medical and diagnostic products and devices, outsourced healthcare services and specialty pharmaceutical products and services. Target companies are valued between $50 million and $500 million.

Water Street sealed the first investment from its $750 million Fund III in April by acquiring Danish group CCBR-SYNARC, which specialises in outsourced clinical services. Fund III closed in 2012 after just two months in the market. CCBR-SYNARC is Water Street’s second investment in a European-based business and 12th addition to its portfolio, Private Equity International previously reported.

Chicago-based Water Street spun out of One Equity Partners’ healthcare practice in 2005. One Equity is the private investment arm of JP Morgan. Water Street’s first independent fund raised $270 million and its second vehicle raised $650 million, according to PEI’s Research and Analytics division. The firm has more than $2 billion in assets under management.