Avista Capital Partners

Founded in 2005, Avista Healthcare Partners originated as a spinoff from Credit Suisse's private equity arm, DLJ Merchant Banking Partners. The firm was established by former DLJ executives Thompson Dean, Steven Webster, and David Burgstahler. While its initial funds included investments in sectors like media and energy, the firm shifted its strategy to focus exclusively on the healthcare industry starting with its fourth fund in 2016.

The firm specializes in middle-market healthcare companies, utilizing strategies such as leveraged buyouts and growth capital. Over its history, Avista has raised several billion dollars across multiple funds, with its fifth fund closing at $1.2 billion in 2021. Notable historical events include the spin-out of its energy team into a separate firm, AEC Partners, in 2017.

Avista's investment activity covers a broad range of healthcare sub-sectors, including medical devices, pharmaceuticals, and outsourced services. The firm frequently collaborates with other private equity groups and institutional investors, such as Nordic Capital and the Ontario Teachers Pension Plan, to execute large-scale acquisitions and subsequent public offerings or exits.