Hildred Capital Management, LLC ("Hildred"), a lower middle-market healthcare private equity firm, today announced the successful final closing of its third fund, Hildred Equity Partners III (the “Fund”).
The Fund was significantly oversubscribed, exceeding its $600 million target and hitting its hard cap in seven months. With total capital commitments in excess of $800 million, the Fund represents more than double the size of its predecessor fund, Hildred Equity Partners II, which closed in 2021 with $363 million of capital commitments.
The Fund received strong support from a diverse group of both new and existing investors globally. Investors include public pension plans, insurance companies, financial institutions, endowments, private wealth and financial services platforms, family offices, and high-net-worth individuals. The General Partners of Hildred and their affiliated entities committed over $60 million of capital alongside the Fund’s limited partners.
On behalf of Hildred, Co-Founders and Managing Partners Andrew Goldman and David Solomon expressed their gratitude, stating:
“We are grateful for our existing investors’ continued partnership and the enthusiastic support we have received from new limited partners around Fund III. There are a significant number of compelling investment opportunities throughout the healthcare ecosystem, and we believe we are well positioned to leverage our firm’s strategic, operational, and financial expertise to help enhance performance and create enduring value.”
Hildred remains committed to generating strong financial returns for its investors by tapping into secular growth opportunities across a range of subsectors in healthcare products and services, including commercial stage pharmaceutical and OTC products, care delivery services, medical devices, life science tools and diagnostics, outsourced pharmaceutical and clinical services, and healthcare IT and tech enabled services, as well as related businesses. With deep industry knowledge and relationships, Hildred will pursue control-oriented transactions in outstanding healthcare companies where the focus will continue to be on building exceptional companies that add value to the healthcare system by improving patient outcomes, expanding access to high quality care and reducing costs.
Evercore Private Funds Group served as the lead global placement agent for the Fund. Kirkland & Ellis served as legal counsel.
Alexander Russ, Head of North America at Evercore Private Funds Group, stated, “The overwhelming support from new investors speaks volumes about the caliber of the team at Hildred and the reputation they have built as a preeminent player in lower middle-market healthcare investing.”
Hildred Equity Partners III will begin deploying capital in the first quarter of 2025 and is actively evaluating new investment opportunities.
About Hildred Capital
Hildred Capital is a healthcare-focused private equity firm that specializes in operationally intensive, control-oriented investments in lower middle-market companies. Hildred partners with innovative and growth-oriented management teams to build high quality businesses. The Hildred team possesses extensive experience across the healthcare industry, and seeks to leverage its unique blend of strategic, financial, commercial and operational acumen to drive strategic growth and create value for its portfolio companies and investment partners. Hildred currently has more than $2.65 billion in assets under management. For more information, please visit www.hildred.com and follow the firm on LinkedIn.
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Mike Geller
Prosek Partners
mgeller@prosek.com
