Avista Capital Partners

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Avista Capital Partners, LLP
Private
Industry Private equity
Predecessor DLJ Merchant Banking Partners
Founded 2005
Founder Thompson Dean, Steven Webster
Headquarters New York, New York, United States
Products Leveraged buyout, Growth capital
Total assets $5 billion
Website www.avistacap.com

Avista Capital Partners is an American private equity firm focused on growth capital and leveraged buyout investments in middle-market companies in the healthcare sector.

Company[edit]

The firm, based in New York City, was founded in 2005 by Steven Webster and Thompson Dean, as a spinoff from Credit Suisse's private equity arm DLJ Merchant Banking Partners (Dean was head of DLJMBP).[1] Avista's spinoff from Credit Suisse was at the same time as private equity groups from other leading investment banks were formed including JPMorgan Chase's CCMP Capital, Citigroup's Court Square Capital Partners, Deutsche Bank's MidOcean Partners, and Morgan Stanley's Metalmark Capital.

Avista received support from Credit Suisse for its debut fund.[2]. In contrast, Diamond Castle Holdings, a middle-market focused private equity firm founded in 2006 (shortly after Avista) by Larry Schloss, also a former banker with DLJ Merchant Banking Partners, did not receive funding support from Credit Suisse.

Avista completed fundraising for its first $2 billion fund in 2007.[3][4] Avista closed on its second fund with $1.8 billion of commitments, which was only 60% of its original $3 billion target.[5]

In 2009, one of Avista's media acquisitions, the Minneapolis Star Tribune newspaper, the nation's 15th largest daily paper, filed for Chapter 11 bankruptcy.[5][6][7]

In 2011, Avista acquired DataBank Ltd., an enterprise-class managed data center based in Dallas, TX, and sold the company to Digital Bridge Holdings LLC in 2016.[8]

See also[edit]

References[edit]

  1. ^ Farrell, Maureen (September 2, 2016). "Avista Capital Plans to Launch Blank-Check Company for Health-Care Deals". Wall Street Journal. Retrieved December 4, 2017.  AltAssets, June 14, 2007
  2. ^ "Avista, With CS Backing, Makes Splashy Debut". PE Hub. 25 June 2007. Retrieved 15 March 2018. 
  3. ^ Avista closes $2bn fund Archived December 2, 2008, at the Wayback Machine.. AltAssets, June 14, 2007
  4. ^ Moore, Heidi (14 June 2007). "Avista fund challenges Credit Suisse". www.fnlondon.com. New York. Retrieved 15 March 2018. 
  5. ^ a b Griffith, Erin (16 March 2010). "Better Late Than Never: Avista Closes Second Fund - PE Hub". PE Hub. Retrieved 15 March 2018. 
  6. ^ Steller, Chris (January 15, 2009). "A cold day indeed for Minnesota: It's bankruptcy for the Star Tribune". The Minnesota Independent. Archived from the original on 2009-01-19. Retrieved 2009-01-15. 
  7. ^ Schmickle, Sharon (January 15, 2009). "Strib files for bankruptcy and lists unsecured creditors". MinnPost. Retrieved 2009-01-15. 
  8. ^ Baker, Liana (July 14, 2016). "Digital Bridge acquires data center company". Reuters. Retrieved December 4, 2017. 

External links[edit]