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January 12, 2021Avista Capital Partners Announces Strategic Investment from Capital Constellation
NEW YORK, Jan. 12, 2021 /PRNewswire/ -- Avista Capital Partners ("Avista"), a leading New York-based private equity firm with over $6 billion invested in more than 35 healthcare businesses globally, today announced a strategic partnership with Capital Constellation ("Constellation"). Constellation, a group of premier global institutional investors who provide catalytic investment capital and expertise to growing investment management platforms, is managed by leading private equity and alternative investment manager Wafra Inc. ("Wafra"). Avista focuses on five healthcare sub-verticals: medical devices and technologies, pharmaceuticals, pharma outsourcing, healthcare IT and distribution, and consumer-driven care. Constellation acquired a minority ownership interest in Avista, providing significant investment capital to support the continued growth of Avista's healthcare-focused investment business and enabling Avista to increase its commitment to its funds under management.
"We are delighted to welcome Constellation as a partner whose investment is a strong endorsement of the long-term vision that we have for the Avista platform, as well as Avista's values, strategy and performance," said Thompson Dean, Managing Partner and Co-CEO of Avista. "We are excited by the opportunities that will be unlocked by this partnership, and the Constellation relationship will help us to build on the success of our healthcare-focused investment strategy with a global impact," said David Burgstahler, Managing Partner and Co-CEO of Avista.
"Constellation is pleased to partner with Avista, a proven private equity firm with an established team specializing in the healthcare sector, a large and critical segment of our global economy," said Russell Valdez, Chief Investment Officer of Wafra and a Board Member at Constellation. "The partnership with Avista reflects Constellation's strategy of providing investment capital to growing, dynamic private equity platforms and supporting the development of those platforms by promoting peer-to-peer collaboration among leading institutional investors and investment managers. We look forward to supporting Avista as they pursue a differentiated strategy in their target sector."
Houlihan Lokey served as the financial advisor and Kirkland & Ellis LLP served as legal counsel to Avista on the transaction. Morgan Lewis & Bockius LLP served as legal counsel to Constellation.
Founded in 2005, Avista Capital is a leading New York-based private equity firm with over $6 billion invested in more than 35 growth-oriented healthcare businesses globally. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects – investing in the medical devices and technologies, pharmaceuticals, outsourced pharmaceutical services, healthcare IT and distribution, and consumer-driven healthcare sectors. Avista's Operating Executives and Advisors are an integral part of the team, providing strategic insight, operational oversight, and senior counsel, which helps drive growth and performance, while fostering sustainable businesses and creating long-term value for all stakeholders. For more information, please visit www.avistacap.com.
About Capital Constellation
Constellation unites the expertise and capital base of premier institutional investors around the world with next-generation alternative asset managers. By providing strategic and financial support alongside a substantial, stable capital base, Constellation seeks to catalyze investor entrepreneurs and generate consistent, long-term returns for its members, who include the Alaska Permanent Fund ("APFC"), RPMI Railpen, the Kuwait Investment Authority ("KIA"), the Third Swedish National Pension Fund ("AP3"), and the Public Institution for Social Security of Kuwait ("PIFSS"). Constellation has partnered with seven managers since its inception across North America and Europe and a range of asset classes and strategies spanning technology, renewable energy, healthcare, communications, as well as real estate credit and private credit. For more information, please visit www.capitalconstellation.com.
Wafra is a global alternative investment platform. Wafra and its affiliates manage assets and commitments of approximately $28 billion. Funds advised by Wafra currently have 21 minority partnerships with both growth stage and mature alternative investment management firms. By providing flexible and accretive capital solutions and focusing on long-term partnerships, Wafra aligns and partners with best-in-class management teams. Headquartered in New York, Wafra and its affiliated and associated firms have additional offices in Austin, London, Kuwait, and Bermuda. For more information, please visit www.wafra.com.
Media Contact for Avista
Media Contact for Capital Constellation and Wafra
SOURCE Avista Capital Partners