The fund is co-led by Apollo S3, Blackstone Strategic Partners and Five Arrows
We are delighted to announce that BPOC, a pure-play healthcare investor, announced the closing of its first continuation vehicle, a $425 million transaction co-led by investment funds affiliated with Apollo S3, Blackstone Strategic Partners and Five Arrows.
The continuation fund consists of five healthcare services companies previously held by Beecken Petty O’Keefe & Company Fund IV, L.P. and Beecken Petty O’Keefe & Company Fund IV-A, L.P. (together “BPOC Fund IV”), 2013 vintage funds with $503 million in combined total capital commitments.
The continuation fund will provide more time and, in certain cases, additional capital to assist each portfolio company in further accelerating its full growth potential. Existing investors in BPOC Fund IV were provided with the choice to receive full liquidity or to fully or partially re-invest into the new continuation fund.
“We are grateful for the support of our new investors and believe this new vehicle will enable us to continue to create value at certain Fund IV companies, while providing liquidity options for our existing Fund IV investors,” said Gregory Moerschel, Managing Partner of BPOC.
Asante Capital Group Advisors LLC acted as exclusive advisor to BPOC on the transaction. Kirkland & Ellis LLP and Paul Hastings LLP served as legal counsel to BPOC, while Proskauer Rose LLP represented Apollo S3, Blackstone Strategic Partners and Five Arrows.
BPOC is a Chicago-based private equity firm that invests exclusively in healthcare companies. With an extensive network of industry contacts and dedicated operating executives, BPOC has a track record of successfully partnering with companies through multiple economic and healthcare regulatory cycles.
Founded in 1996, BPOC has completed over 60 platform investments and has raised six funds with over $2.2 billion in total capital commitments. BPOC has invested in numerous providers, manufacturing, outsourcing, distribution and information technology companies through growth equity, management buyouts and leveraged recapitalizations. For more information, visit www.bpoc.com
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