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InTandem Capital Partners Closes on Additional Limited Partner Commitments to Increase Size of Active Funds to Over $650 Million
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Rhea-AI Sentiment
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Rhea-AI Summary
InTandem Capital Partners has announced the closing of its InTandem Capital Opportunities Fund, LP, successfully raising $225 million. The fund, significantly oversubscribed, will provide expansion capital to existing portfolio companies and future investments. This brings InTandem's total fundraising since its inaugural fund in 2017 to $225 million and $250 million as of June 2019. The firm's growth strategy includes supporting innovative healthcare service companies like Cano Health.
Positive
Oversubscribed fund raising of $225 million indicates strong investor confidence.
The fund will enable expansion capital for existing portfolio companies, enhancing growth potential.
Increased investment team size supports a growing portfolio in healthcare services.
Negative
None.
InTandem Capital Opportunities Fund Raises $225 Million
NEW YORK--(BUSINESS WIRE)--
InTandem Capital Partners, LLC (“InTandem”), a healthcare services focused private equity firm, today announced the closing of a supplemental private equity investment fund, InTandem Capital Opportunities Fund, LP (the “Fund”), at the hard cap of $225 million of limited partner commitments. The Fund, which was significantly oversubscribed, will focus on providing expansion capital to existing portfolio companies and additional capital for future platform investments from InTandem Capital Partners Fund II, a vintage June 2019 fund that closed with $250 million in limited partner commitments.
A diverse group of existing limited partners, including leading foundations and endowments, committed capital to the Fund. Since raising InTandem Capital Partners Fund, LP, the firm’s inaugural fund that closed in June 2017 with $175 million in limited partner commitments, InTandem has more than doubled the size of its investment and operating teams to support a growing, dynamic portfolio of healthcare services companies, including Cano Health (NYSE: CANO), Paradigm Oral Health, Pediatric Home Service, Turning Point Centers, Ivy Fertility, and Providence Care.
Elliot Cooperstone, Managing Partner of InTandem Capital Partners, said, “We are grateful for the support we received from our limited partners. The new capital will allow us to provide additional resources to support the growth of our portfolio companies and to expand our investment strategy of identifying innovative and disruptive companies and high-caliber entrepreneurs within the healthcare services industry that will benefit from our hands-on, operational approach to accelerating growth and creating value.”
David Rallis, DDS, MD, Chief Executive Officer of Paradigm Oral Health, a leading oral surgery provider and InTandem portfolio company, said, “Since InTandem initially invested in Paradigm nearly three years ago, the firm has supported us in every step of our journey. As a company that will likely benefit from this expansion capital, we expect to see a significant impact on our service offerings, capabilities, operations and overall growth. The successful raise and closing of this supplemental vehicle is a true testament to not only InTandem’s quality track record of generating strong returns for their investors, but more importantly their ability to genuinely partner with and guide management teams and provide unique value-add resources. We wish the entire InTandem team continued success and look forward to maintaining our long-standing relationship with the firm.”
Goodwin Procter LLP served as fund counsel for InTandem Capital Opportunities Fund, LP.
About InTandem Capital Partners
InTandem is a private equity firm that invests in and helps accelerate the growth of select healthcare services companies. Its goal is to build excellent businesses of significant value working collaboratively with its management team partners. InTandem is comprised of former business executives and experienced investors, and is uniquely qualified to provide strategic, acquisition and operating expertise to help companies significantly increase their value over time. InTandem provides active support to the management of its portfolio companies directly, and leverages its network of industry executives to augment its capabilities. For further information, please visit: www.intandemcapital.com.
