Firm: Cressey & Co.
Fund: Cressey & Co. Fund IV LP
Amount Raised: Approximately $300 million
Target: Approximately $400 million
Placement Agent: Park Hill Group LLC, Shannon Advisors
After two years in the market, buyout firm
The firm split amicably from Thoma Cressey Bravo two years ago to invest exclusively in health care services companies, while the other team, under the name
Cressey argued at the time that an increase in life expectancy would drive the need for more health care services. He also noted that buyout firms tend to shy away from health care services because of regulatory complexities, giving his firm less pricing competition on deal opportunities.
Since the split, Cressey & Co. has added Bill Frist, former U.S. Senate Majority Leader, as a partner. Senator Frist was the first practicing physician to be elected to the U.S. Senate since 1928. The firm also partnered with Ralph Davis, chairman of law firm Waller Lansden Dortch & Davis LLP.
Partners of Cressey & Co. and Thoma Bravo continue to share office space and to jointly manage their prior funds.