Sheridan Capital Partners Closes Oversubscribed Fund IV at $1.1 Billion of Institutional Capital, Hitting Hard Cap

Firm Launches Complementary Healthcare IT Strategy with $245 Million Fund

CHICAGO--(BUSINESS WIRE)--Sheridan Capital Partners (“Sheridan” or “SCP”) today announced the successful closing of Sheridan Capital Partners Fund IV (“Fund IV”) at its hard cap with $1.1 billion of total institutional capital commitments.

SCP Fund IV was meaningfully oversubscribed and allocated in under 60 days within launch of the fundraise, showcasing strong demand from both new and existing investors for Sheridan’s disciplined and thesis-driven healthcare investment strategy. Despite market challenges, the Fund closed at nearly double the size of its $575 million Fund III and continued to expand Sheridan’s existing investor base. Sheridan’s flagship fund invests in businesses across the healthcare landscape, including outsourced services, products and manufacturing, and patient services, with recent representative investments in Fund III that include Carolina Components Group, Tres Health, and Currier Plastics.

“We are pleased to have had such a successful raise and are deeply grateful to our partners for their confidence in our strategy and vision,” said Jonathan Lewis, Co-Founder and Partner at Sheridan. “With healthcare growing in complexity, business owners and investors recognize the value of a financial partner with specialized expertise. Sheridan is well positioned to apply that expertise to identify great companies across a range of attractive healthcare subsectors and collaborate with our portfolio companies to help them institutionalize operationally and achieve sustained growth."

Concurrently, Sheridan also successfully closed its Healthcare IT Fund I (“HCIT Fund”) with $245 million in capital commitments. Sheridan’s HCIT Fund is strategically focused on partnering with lower middle market healthcare information technology organizations within North America. The HCIT Fund will continue Sheridan’s thematic sourcing approach, targeting sectors and investments that exhibit positive secular growth trends in fragmented segments of the healthcare IT industry. To date, Sheridan has deployed capital across three platform investments through the HCIT Fund: Cadara, ICANotes and PTEverywhere.

“We believe healthcare IT remains an underserved segment despite its critical role in improving access, efficiency, and outcomes across the healthcare ecosystem,” said Sean Dempsey, Co-Founder and Partner at Sheridan. “With the global healthcare IT market positioned for significant long-term growth, this adjacent strategy broadens our ability to partner with high-quality companies and founders operating at the intersection of healthcare and technology while leveraging the existing network of Sheridan portfolio companies for potential synergies.”

Evercore Private Funds Group acted as Sheridan’s exclusive fundraising advisor and placement agent on Fund IV. Harris Williams served as placement agent on the HCIT Fund. Kirkland & Ellis LLP served as legal counsel to Sheridan Capital Partners.

About Sheridan Capital Partners

Sheridan Capital Partners is a private equity firm focused exclusively on partnering with businesses across the healthcare landscape, including outsourced services, products and manufacturing, providers, and software and technology. Sheridan’s engaged operational approach brings strategic resources and deep industry expertise with the purpose of accelerating growth, building enduring value, and generating strong results. For more information, visit www.sheridancp.com/.