Patient Square racks up $3.9bn for debut fund

The Menlo Park, California-based private equity firm invests in the healthcare industry.

  • The fund’s limited partners include sovereign wealth funds, pension funds, endowments, foundations, family offices, health systems, consultants, private wealth platforms and insurance companies
  • PJT Park Hill served as placement agent while Kirkland & Ellis served as legal counsel
  • Currently, Patient Square’s total assets under management is approximately $5.9 billion

Patient Square Capital has closed its inaugural fund at $3.9 billion, beating its $3 billion target.

The Menlo Park, California-based private equity firm invests in the healthcare industry.

The fund’s limited partners include sovereign wealth funds, pension funds, endowments, foundations, family offices, health systems, consultants, private wealth platforms, and insurance companies.

“We are thrilled to have strong support from wonderful partners around the globe. We feel fortunate, especially in light of such a challenging fundraising environment,” said Jake Cabala, a partner and head of fund partnerships at Patient Square, in a statement. “Our approach to creating value and serving patients really seemed to resonate.”

PJT Park Hill served as placement agent while Kirkland & Ellis served as legal counsel.

Currently, Patient Square’s total assets under management is approximately $5.9 billion.