Maverix Private Equity Announces Team Additions

Rhea-AI Summary

Maverix Private Equity, a Toronto-based firm, has launched its inaugural USD $500 million growth fund and appointed Michael Wasserman as Managing Partner. Wasserman, a former Managing Director at H.I.G. Capital Management, will focus on healthcare investments. Additionally, Peter Hass has joined as Associate Partner, overseeing investment deal execution. Jonathan Goodman, co-founder of Paladin Labs, is joining the Maverix Advisory Board. Maverix targets North American companies with strong growth potential and a profitable business model, with average investments of USD $50 million.

Positive

• Launch of USD $500 million growth fund.
• Appointment of experienced professionals Michael Wasserman and Peter Hass to key positions.
• Focus on healthcare investments aligns with current market trends.
• Jonathan Goodman joining the Advisory Board enhances credibility and strategic insight.

Negative

• None.

TORONTO, May 3, 2021 /PRNewswire/ - Maverix Private Equity, a Toronto-based private equity firm which recently announced an inaugural USD $500 million growth-fund, has today announced the addition of Michael Wasserman as a Managing Partner, joining Founder John Ruffolo and Mark Maybank. Michael is returning to Canada after 17 years at H.I.G Capital Management, a leading global private equity investment firm with more than $44 billion of equity capital under management. Most recently, Michael was a Managing Director of H.I.G. BioHealth Partners, the firm's dedicated healthcare investment fund, where Michael sourced, executed and managed a diverse investment portfolio of healthcare business across stages, sectors and geographies. Michael remains a Senior Advisor with H.I.G.  In addition to his firm-wide responsibilities, Michael will be leading Maverix's investments in Healthcare and Wellness, one of the firm's core investment themes. 

"I could not be prouder to be coming home to join this talented group of investors and entrepreneurs", said Michael Wasserman. "The progress and evolution of the Canadian innovation ecosystem in recent years has been nothing short of remarkable. Maverix is uniquely positioned to help catalyze the growth of disruptive Canadian businesses and global leaders and I am truly humbled and excited to be part of this compelling effort."

In addition to Michael Wasserman, Peter Hass has also joined Maverix as Associate Partner. Peter will be leading investment deal execution including financial modelling and leading due diligence. Peter will also work closely with portfolio companies in strategic and financial management as well as the evaluation of organic and inorganic growth opportunities. Peter is an experienced private equity investor, having formerly worked at both Mattamy Asset Management and OMERS Growth Equity.

Finally, Jonathan Goodman, co-founder, President and CEO of publicly traded Paladin Labs Inc., which was acquired in 2014 by Endo International In. (NASDAQ: ENDP) for $3.2 billion will be joining the Maverix Advisory board as its 6^th member. The Maverix Advisory Board represents a who's who of successful Canadian entrepreneurs and business leaders, who share a similar mission, to help build the next wave of disruptive Canadian businesses.

Under Mr. Goodman`s leadership, $1.50 invested in Paladin at its founding was worth $142 nineteen years later. The same day that Paladin was sold, Mr. Goodman started a second publicly-traded specialty pharmaceutical company, Knight Therapeutics Inc. (TSX: GUD), which has now raised $685 million of equity in 5 rounds of financing all at increasing valuations. Since inception in February 2014, Knight has generated over $220 million of net income. For the last 25 years, Mr. Goodman has devoted 15% of his time on Tikkun Olam, which has included fielding the largest team in the Province of Quebec for the Ride to Conquer Cancer for 7 consecutive years to filling Place des Arts for the Ted Wise ORT/Jewish Education Gala for 6 consecutive years raising $10+ million to support Jewish education.

ABOUT MAVERIX PRIVATE EQUITY

Maverix Private Equity is a Toronto-based private equity firm. It is led by an experienced and talented team with the background, network, and track record necessary to successfully execute on an investment strategy of technology-enabled growth and disruption. Maverix is currently investing out of its inaugural fund, the Maverix Growth Equity Fund I, of USD$500M. Maverix targets North American companies with rapidly growing revenue and evidence of a profitable business model. Its target cheque size is expected to average USD$50M for meaningful minority positions in portfolio companies.  

For more information on Product: https://www.maverixpe.com

View original content:http://www.prnewswire.com/news-releases/maverix-private-equity-announces-team-additions-301281565.html

SOURCE Maverix Private Equity

FAQ

What is the significance of Maverix Private Equity's new growth fund launched in May 2021?

The USD $500 million growth fund positions Maverix to target high-potential North American companies, emphasizing technology-enabled growth.

Who has joined Maverix Private Equity as Managing Partner?

Michael Wasserman, formerly of H.I.G. Capital Management, has been appointed as Managing Partner.

What is the investment focus of Maverix Private Equity?

Maverix focuses on rapidly growing North American companies with evidence of a profitable business model.

What role will Jonathan Goodman play at Maverix Private Equity?

Jonathan Goodman joins as a member of the Maverix Advisory Board, bringing extensive industry experience.

How much will Maverix typically invest in its portfolio companies?

Maverix targets average investments of USD $50 million for meaningful minority positions.