Avista Healthcare Partners Closes Continuation Fund for GCM
- Editor
- Jun 24
- 2 min read
Whats Happening:
Avista Healthcare Partners has successfully closed a single-asset continuation fund for GCM, a leading outsourced manufacturer of complex precision components for medical technology markets. The fund is anchored by Goldman Sachs Alternatives, with additional investments from BlackRock Secondaries & Liquidity Solutions. This move provides liquidity options for existing investors while securing additional capital for GCM's growth and acquisition opportunities.
Key Moves:
Avista closes continuation fund for GCM, backed by Goldman Sachs and BlackRock
Fund includes substantial unfunded capital commitments for future growth
GCM has more than doubled its revenue since Avista's acquisition in 2019
By The Numbers:
Avista has over $9 billion invested in 50 healthcare businesses globally
Goldman Sachs has approximately $3.2 trillion in assets under supervision
Secondaries at Goldman Sachs has invested over $80 billion since inception
Key Quotes:
"We are pleased to provide our existing investors with the option for liquidity or continuing to participate in the value creation strategy we are successfully executing at GCM," said Rob Girardi, Partner at Avista Healthcare Partners.
"The new capital and continued expertise of the Avista team will help us more quickly enhance our product offerings, expand our manufacturing capabilities, and achieve our next stage of growth," said Seamus Meagher, CEO of GCM.
"We are excited about the future prospects of GCM and the opportunity to partner with Avista in a transaction that provides existing investors a liquidity option while providing GCM additional duration and capital," said Brian Musto, Managing Director at Goldman Sachs Alternatives.
Bottom Line:
Avista Healthcare Partners' successful closure of the continuation fund for GCM demonstrates the fund's ability to create value in the healthcare sector. This transaction provides liquidity options for existing investors while securing additional capital for GCM's growth, highlighting the evolving landscape of private equity investments in the healthcare technology market.
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