Kirkland Helps Varsity Healthcare Clinch $417M PE Fund

By Benjamin Horney (August 28, 2019, 9:27 AM EDT) -- Private equity shop Varsity Healthcare Partners, working with Kirkland & Ellis LLP, said Wednesday it has closed its third fund after raking in $417 million from limited partners, with plans to focus on lower middle market health care companies.

The fund, called Varsity Healthcare Partners III, exceeded its original target and hit its hard cap after five months of fundraising, according to a statement. It brings the total amount of capital since the firm's 2014 formation to $816 million. UBS Securities LLC served as placement agent for the new fund.

The fund will follow in the footsteps of Varsity Healthcare's previous...

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