NovaQuest Private Equity Closes New Fund at $500m

NovaQuest Private Equity has closed its newest fund, NovaQuest Private Equity Fund II, with $500m, according to a news release.

The fund was closed at its hard cap, exceeding the initial target of $425m.

NQPE is a private equity firm that invests in lower middle market healthcare services and technology companies primarily in North America. It’s the private equity group of NovaQuest Capital Management, which is based in Raleigh, N.C., and was formed in 2000.

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“We are grateful for the support we received from our existing limited partners, as well as strong demand from new investors for NQPE II,” said Michael Sorensen, Partner, NovaQuest Private Equity. “As a continuation of the strategy we executed in our first fund, NQPE II will focus on investing in innovative companies in attractive thematic sectors and on partnering with talented management teams to build great companies.”

NQPE targets companies in the lower middle market and utilizes its in-house operating expertise to drive operational improvements and to prepare companies for growth.

“We are proud of the team we have built and the strong partnerships we have formed with the management teams of our companies,” said the NQPE partners. “We will continue to develop and deploy our unique operating system to drive value for our investors and the employees of our portfolio companies.”

Previous NQPE investments include Azurity Pharmaceuticals, a leading provider of drug delivery technology solutions; Clinical Ink, a provider of eClinical data collection technology; and Catalyst Clinical Research, a provider of outsourced clinical services for clinical trials.

Source: JD Supra

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