NEW YORK, Nov. 18, 2021 /PRNewswire/ -- Regal Healthcare Capital Partners ("Regal"), a New York-based healthcare private equity firm focused exclusively on investments in healthcare services companies, is pleased to announce the first and final closing of its third private equity fund, RHCP III, L.P. ("Fund III") at the hard cap of $415 million (inclusive of general partner commitments).
Fund III, raised in less than one month, surpassed its initial target of $325 million and will continue Regal's strategy of partnering with leading entrepreneurs in the healthcare services space. Together with Regal's first two funds, which were raised in February 2018 and July 2019, respectively, Regal now manages a total committed capital base of over $665 million.
Regal's investor base remains largely the same, with almost $350 million of Fund III's capital commitments coming from investors in Regal's prior funds. Regal also attracted substantial inbound interest from a number of quality institutions and invited a select group to participate in Fund III. Additionally, the general partners of Regal have committed to invest more than $100 million alongside Fund III.
"We are grateful for the tremendous support we've received from our existing and new limited partners and look forward to continuing to partner with leading entrepreneurs to create high quality healthcare businesses," said David Kim, MD, General Partner at Regal. "We are excited to build on the successes of our first two funds and deliver superior returns to our investors," said Jon Santemma, General Partner at Regal.
DLA Piper served as legal counsel to Regal Healthcare Capital Partners. Regal did not use a placement agent.
About Regal Regal Healthcare Capital Partners ("Regal") is a New York-based private equity firm focused exclusively on lower-middle market healthcare services companies. Regal seeks to partner with healthcare entrepreneurs across the United States, with a focus on providing high-quality, accessible, and convenient care to all patients. Regal targets equity investments of $20 - $70 million in each opportunity, with target investments ranging in size from $20 - $100 million of revenue.