STOCK TITAN

Piper Sandler Announces Final Closing for Piper Heartland Healthcare Crossover Fund I

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Piper Sandler Companies (NYSE: PIPR) has successfully closed its Piper Heartland Healthcare Crossover Fund I with over $200 million in committed capital, marking a significant addition to its healthcare investment platform. The Fund has already deployed around $40 million across seven investments, focusing on innovative sectors including biotech, med-tech, and healthcare information. CEO Chad Abraham highlighted the Fund's potential to support healthcare companies and deliver exceptional returns to investors.

Positive
  • Closed Piper Heartland Healthcare Crossover Fund I with over $200 million in committed capital.
  • Successfully deployed approximately $40 million across seven investments.
  • Positions Piper Sandler to leverage its healthcare expertise for future growth.
Negative
  • None.

MINNEAPOLIS--(BUSINESS WIRE)-- Piper Sandler Companies (NYSE: PIPR), a leading investment bank, announced today the final closing of the Piper Heartland Healthcare Crossover Fund I (the “Fund”), with over $200 million in committed capital. The Fund has already made seven investments deploying approximately $40 million in capital.

The Fund is the first investment vehicle for Piper Heartland Healthcare Capital (“Piper Heartland Healthcare”), a dedicated healthcare investment platform within Piper Sandler, and will leverage the firm’s leading healthcare investment banking, capital markets and equity research capabilities. The Fund attracted premier investors from across the globe, including institutional investment firms, strategic investors, endowments and family offices.

“We are building a key capability in our long-term growth plan with the establishment of Piper Heartland Healthcare Capital and the launch of this fund,,” said Chad Abraham, Chairman and CEO of Piper Sandler. “Piper Heartland Healthcare demonstrates our ability to support healthcare companies at key moments in their growth path and allows us to pursue proprietary investment opportunities with the goal of delivering exceptional potential returns for investors.”

Building on the industry knowledge and capital markets expertise of Piper Sandler’s leading healthcare banking and research platforms, the Fund will invest primarily in biotech, med-tech, and healthcare information sectors. The Fund will focus on innovative companies with near-term public markets prospects, driven by experienced management teams and backed by highly respected investment partners.

Matt Hemsley, formerly a Managing Director in the healthcare investment banking group at Piper Sandler, will lead Piper Heartland Healthcare Capital as CEO and will be the fund manager for the Fund. Hemsley will continue to serve as the Chairman of the Heartland Summit, one of Wall Street’s most significant annual gatherings of healthcare CEOs, thought leaders and policymakers in the world.

“Innovative companies across all sectors in healthcare are needed now more than ever and are rapidly redefining the market landscape and market potential,” said Matt Hemsley, CEO of Piper Heartland Healthcare. “This fund will be the first step towards building out Piper Heartland Healthcare Capital to support companies across the life-sciences, helping them achieve their goals and ours.”

Foley & Lardner LLP acted as legal counsel to the Fund.

ABOUT PIPER SANDLER

Piper Sandler Companies (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership®. Securities brokerage and investment banking services are offered in the U.S. through Piper Sandler & Co., member SIPC and NYSE; in the U.K. through Piper Sandler Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through Piper Sandler Hong Kong Ltd., authorized and regulated by the Securities and Futures Commission. Alternative asset management and fixed income advisory services are offered through separately registered advisory affiliates.

Follow Piper Sandler:  LinkedIn |  Facebook |  Twitter

©2022. Since 1895. Piper Sandler Companies. 800 Nicollet Mall, Minneapolis, Minnesota 55402-7036

Tim Carter

Chief Financial Officer

Tel: 612 303-5607

timothy.carter@psc.com

Source: Piper Sandler Companies

FAQ

What is the Piper Heartland Healthcare Crossover Fund I's total capital raised?

The Fund has raised over $200 million in committed capital.

What sectors does the Piper Heartland Healthcare Crossover Fund I focus on?

The Fund primarily invests in the biotech, med-tech, and healthcare information sectors.

How much capital has been deployed by the Piper Heartland Healthcare Crossover Fund I so far?

Approximately $40 million has been deployed across seven investments.

Who leads the Piper Heartland Healthcare Capital?

Matt Hemsley serves as CEO and fund manager for the Piper Heartland Healthcare Capital.

Piper Sandler Companies

NYSE:PIPR

PIPR Rankings

PIPR Latest News

PIPR Stock Data

4.73B
17.27M
2.38%
80.96%
1.71%
Capital Markets
Security Brokers, Dealers & Flotation Companies
Link
United States of America
MINNEAPOLIS