Ampersand attracts capital for healthcare specialists

Ampersand Capital Partners in Wellesley, Massachusetts announced the $670 million closing of its private equity strategy dedicated to growth-oriented investments within the healthcare sector. The Ampersand Continuation Fund was oversubscribed and formed to acquire the equity interests of three portfolio companies previously held by multiple mature Ampersand funds. A core asset in the fund is in Confluent Medical Technologies. Confluent Medical is known for its precision contract manufacturing of specialized medical devices. Its portfolio of services includes complex catheters, stent delivery systems, Nitinol components, biomedical textiles, balloon expandable stents, balloon catheters and guidewires. “With an initial five-year term, and access to capital for additional acquisitions and secondary purchases, AMP-CF positions Confluent's management and investors to continue taking a long-term view of the Company's future growth opportunities,” said Ampersand Founder and Confluent Chairman Rick Charpie. “As the majority investor in Confluent, we look forward to working with the Company's exceptional management team to build on Confluent's position as a leading designer and manufacturer of complex, finished medical devices to the world's largest OEM's." StepStone Group was a lead investor in the transaction. In addition to StepStone, the fund received commitments from a broad group of secondary and primary investors, including many prior Ampersand investors that elected to reinvest, according to the firm. The Ampersand Continuation Fund’s closing was done less than 45 days after StepStone’s commitment and exceeded the $600 million target set. With the closing of the latest fund, Ampersand now has more than $2 billion in assets under management. "We are very pleased that AMP-CF was so well received in the marketplace,” said Ampersand Partner Trevor Wahlbrink. “The strong response from current and new limited partners confirms our belief that creating AMP-CF was a win-win opportunity for all of Ampersand's key constituents. All of the AMP-CF portfolio companies are high-quality assets that we know exceptionally well, and the Ampersand team remains excited about their long-term growth prospects."

Ampersand attracts capital for healthcare specialists

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