Avista Capital Partners

Founded in 2005, Avista Healthcare Partners (formerly Avista Capital Partners) originated as a spinoff from Credit Suisse's private equity arm, DLJ Merchant Banking Partners. The firm was established by Steven Webster, Thompson Dean, and David Burgstahler during a period when several major investment banks were spinning off their private equity groups. While the firm initially managed diversified funds, it transitioned to a pure-play healthcare focus starting with its fourth fund.

The firm specializes in middle-market investments within the domestic healthcare sector, utilizing strategies such as leveraged buyouts and growth capital. Since its inception, Avista has raised multiple funds, with its fifth fund closing in 2021 at $1.2 billion, exceeding its initial target. The firm is headquartered in New York City and previously managed energy-related investments before that team spun out to form AEC Partners in 2017.

Avista's history includes a mix of successful exits through initial public offerings and secondary sales, as well as navigating complex restructurings like the bankruptcy of the Minneapolis Star Tribune. Notable recent activity includes the acquisition of eMolecules and the closing of a single-asset continuation fund for GCM in 2025.