Cressey & Company Raises New $615 Million Private Equity Fund

CHICAGO and NASHVILLE, Tenn., Dec. 8, 2014 /PRNewswire/ -- Cressey & Company LP ("Cressey & Company"), a healthcare-focused private investment firm, today announced the closing of Cressey & Company Fund V, LP at a combined $615 million in limited partner and general partner capital commitments.  The new fund will continue Cressey & Company's focus on investing in and building leading provider, service and information technology businesses in the North American healthcare industry. 

"We are pleased with the support our new fund has received," said Peter Ehrich, Partner at Cressey & Company.  "The investment community's response underscores the strength of our investment strategy and team.  We thank our existing and new investors for entrusting us with their capital, and we look forward to applying our expertise with the goal of building high quality healthcare businesses."

Fund V launched in July 2014 with a target of $400 million and was quickly oversubscribed.  Fund V had a single close at its hard cap on all $615 million of committed capital.  Cressey & Company's previous standalone fund, Cressey & Company Fund IV, closed in 2010 on $385 million in capital commitments.

Similar to Fund IV, Fund V will implement Cressey & Company's "Target, Partner and Build" strategy that focuses on providing capital and support to exceptional executives in high-potential sectors of the healthcare industry.  As part of this strategy, which Cressey & Company and its predecessor firms have executed for over 30 years, Fund V will focus on investing in leading platform businesses and accelerating growth both organically and through acquisitions.  It generally seeks control-oriented investments in companies with enterprise values at the time of investment of between $50 million and $300 million.

Ropes & Gray LLP served as legal counsel in the formation of Fund V.  No placement agent was used.

About Cressey & Company
Based in Chicago, IL and Nashville, TN, Cressey & Company ("Cressey & Company") is a private investment firm focused on building leading healthcare provider, service and information technology businesses.  With a history spanning nearly 35 years, the Cressey & Company team is one of the most experienced and successful in the healthcare private equity field.  More information about Cressey & Company is available at http://www.cresseyco.com.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cressey--company-raises-new-615-million-private-equity-fund-300005908.html

SOURCE Cressey & Company LP

Related Links

http://www.cresseyco.com