August 13, 2019
GREENWICH, CT — Great Point Partners, a leading health care investment firm, today announced the closing of Great Point Partners III, L.P. (“GPP III”), a $306 million growth buy-out fund, at its hard cap. GPP III was oversubscribed and exceeded its target of $250 million.
GPP III will continue Great Point’s strategy of investing in growing, profitable health care companies that are led by management teams focused on achieving accelerated and sustainable growth. GPP III has already made three investments (representing approximately 30% of committed capital), all in growing pharmaceutical services companies, a core area of focus for the Firm.
“We are pleased to announce our final close,” said Jeffrey R. Jay, M.D., Co-Founder and Managing Director of Great Point Partners. “We were gratified to receive strong support from both our existing investors, many of whom have been invested with us since the inception of our private equity strategy in 2005, and a select group of new leading institutional limited partners.”
David Kroin, Co-Founder and Managing Director, added, “We see this success as a clear endorsement by our investors of our growth buy-out and growth recapitalization investing model, pro-active sourcing strategy and deep health care expertise.”
GPP III’s Limited Partners include leading endowments, foundations, family offices, banks and pension funds. The investment professionals and CEO Advisory Board at Great Point made a significant personal commitment to GPP III, approximately 8% of GPP III’s committed capital.
Morrison Cohen LLP acted as legal counsel for GPP III.
About Great Point Partners
Great Point Partners (“GPP”), founded in 2003 and based in Greenwich, CT, is a leading health care investment firm, currently with approximately $1.8 billion of equity capital currently under management and 28 professionals, investing in the United States, Canada, and Western Europe. GPP is currently making new private equity investments from GPP III. Great Point manages capital in private (GPP I, $156 million and GPP II, $215 million of committed capital, and GPP III which has $306 million in committed capital) and public (BioMedical Value Fund family, approximately $1.2 billion) equity funds. Great Point Partners has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing health care companies. The private equity funds invest across all sectors of the health care industry with particular emphasis on biopharmaceutical services and supplies, outsourcing and alternate site care, pharmaceutical infrastructure and information technology enabled businesses. The firm pursues a proactive and proprietary approach to sourcing investments and tuck-in acquisitions for its portfolio companies. Reach Great Point at 203-971-3300 or www.gppfunds.com.