Frazier Healthcare Partners Announces Strategic Minority Investment from Petershill at Goldman Sachs Alternatives
Frazier Healthcare Partners, a Seattle-based, healthcare-focused private capital firm, is pleased to announce a passive, minority investment from Petershill at Goldman Sachs Alternatives ("Petershill"). Terms of the transaction were not disclosed.
Founded in 1991, Frazier Healthcare Partners ("Frazier") has invested in more than 200 companies over 34 years. The firm recently closed its latest flagship fund, Frazier Healthcare Growth Buyout Fund XI, L.P. ("FHGB XI"), which was significantly oversubscribed, reaching its hard cap of $2.3 billion in limited partner commitments within six months.
Petershill specializes in minority investments in leading alternative asset managers. The group targets well-established firms with strong track records and meaningful cash flow generation, supporting their growth across future fund and product offerings.
This passive minority investment will support the continued growth of the Frazier investment platform, enable increased investment by the general partner in existing and new funds and the development of strategic initiatives by affording greater balance sheet flexibility. The transaction will not affect Frazier's day-to-day management or investment approach.
"Over the past three decades, we have been dedicated to building market-leading healthcare companies and delivering exceptional value to business owners and investors," said Nader Naini, Co-Managing Partner at Frazier. "We are excited to partner with Petershill, a recognized leader in global private capital markets. Their investment opens new doors globally and represents a significant milestone in the evolution of our platform at a time of immense opportunity."
"We are thrilled to partner with Frazier, one of the leading dedicated healthcare private equity platforms in the world," said Ali Raissi-Dehkordy, global co-Head of Petershill at Goldman Sachs Alternatives. "Frazier is a world-class institutional firm that possesses a remarkable depth of expertise, strong investment track record, differentiated value-creation capabilities, and a strategic industry network which gives us confidence in Frazier's continued growth and success."
Houlihan Lokey served as financial advisor to Frazier in connection with the transaction. Kirkland & Ellis served as legal advisor to Frazier. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal advisor to Petershill.
About Frazier
Founded in 1991, Frazier Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. Since its inception, Frazier has raised over $11 billion of capital for private funds and co-investment opportunities. Frazier has a philosophy of partnering with strong management teams while leveraging its internal operating resources and network to build exceptional companies. Frazier is headquartered in Seattle, with an office in New York City (opening 2025), and invests broadly across the U.S., Canada and Europe. For more information about Frazier, visit www.frazierhealthcare.com/growth-buyout.
About Petershill at Goldman Sachs Alternatives
Goldman Sachs (NYSE:GS) is one of the leading investors in alternatives globally, with over $500 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, hedge funds and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world's leading institutions, financial advisors and individuals. Goldman Sachs Asset Management has over $3.1 trillion in assets under supervision globally as of December 31, 2024.
Established in 2007, Petershill at Goldman Sachs Alternatives partners with leading alternative asset managers and helps to accelerate their strategic development. Petershill's minority investments seek to support the creation of long-term value by providing strategic capital to enhance employee retention, facilitate business development, buy out legacy equity holders and generate strategic options – while preserving the autonomy and entrepreneurial spirit of these organizations.
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Peter Tornatore
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