Consonance Capital raises $1.35bn for oversubscribed third healthcare fund

Healthcare focused private investment firm Consonance Capital Partners has closed its third private equity fund with $1.35bn in commitments, reaching its hard cap following an oversubscribed fundraising process that took less than four months.

Consonance Private Equity III will target lower and middle-market healthcare businesses in the US, continuing the investment strategy pursued by the firm’s predecessor funds.

The fund attracted substantial backing from existing limited partners, alongside a select group of new investors. Its investor base includes endowments and foundations, pension plans and financial institutions from across global markets.

Consonance said the fundraising outcome reflected investor confidence in its team, investment strategy and track record, as well as established relationships with its limited partners and portfolio company management teams.

The firm focuses on businesses seeking to improve healthcare efficiency, control costs and deliver high-quality patient care. Its investment approach spans growth equity, leveraged buyouts, corporate carve-outs, recapitalisations and special situations.

Monument Group acted as global placement agent for the fund, while Latham & Watkins served as legal counsel.