Capital Constellation Makes Minority Investment in Avista Capital Partners
Posted on 01/12/2021
Capital Constellation acquired a stake in New York-based Avista Capital Partners, a private equity firm with over US$ 6 billion invested in more than 35 healthcare businesses globally. Capital Constellation is managed by Wafra Inc. and is backed by a number of institutional investors. Constellation acquired a minority ownership interest in Avista, providing significant investment capital to support the continued growth of Avista’s healthcare-focused investment business and enabling Avista to increase its commitment to its funds under management.
Avista focuses on five healthcare sub-verticals: medical devices and technologies, pharmaceuticals, pharma outsourcing, healthcare IT and distribution, and consumer-driven care.
Houlihan Lokey served as the financial advisor and Kirkland & Ellis LLP served as legal counsel to Avista on the transaction. Morgan Lewis & Bockius LLP served as legal counsel to Constellation.
By providing strategic and financial support alongside a substantial, stable capital base, Capital Constellation seeks to catalyze investor entrepreneurs and generate consistent, long-term returns for its members, who include the Alaska Permanent Fund (“APFC”), RPMI Railpen, the Kuwait Investment Authority (“KIA”), the Third Swedish National Pension Fund (“AP3”), and the Public Institution for Social Security of Kuwait (“PIFSS”).