The Korean affiliate of Dallas-based investment firm Highland Capital Management has closed on a private equity fund that will focus on the U.S. and Asian health care markets.
South Korea’s National Pension Service was the anchor investor for the $147 million fund.
The firm is capitalizing on what has been a big sector of interest among Asian investors over the past two years. Highland will work with Korean private equity and venture capital firm, Stonebridge Capital. The fund will focus on middle-market health care companies on both continents.
About half of Highland’s private equity deals over the past 15 years have been related to the health care market. Highland is one of the largest private investment companies in Dallas. It has more than $1.5 billion in health care assets spread out across multiple funds and structured deals.
Managers of the new fund are currently in Asia “actively looking for deals” as the firms are looking to deploy the capital as soon as possible, a spokesperson for Highland said Thursday.
“The healthcare industry in the U.S. faces a number of disruptive forces that acutely affect companies in the middle market,” Highland Capital’s co-head of private equity Matt Jameson said in a statement. “The demographic ‘graying’ of America and increased access to healthcare services in Asia are driving greater utilization levels and more complex consumer and government demands on the sector.”
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