Hammes Partners holds final close on $687 million healthcare real estate fund
Hammes Partners, a private equity firm focused exclusively on the U.S. healthcare real estate market, has announced the over-subscribed final closing of Hammes Partners III, LP (the “Fund”). Hammes is pleased to have reached its hard cap, with $687 million of commitments for the Fund.
Milwaukee, WI, December 19, 2017 – Hammes Partners, a private equity firm focused exclusively on the U.S. healthcare real estate market, has announced the over-subscribed final closing of Hammes Partners III, LP (the “Fund”). Hammes is pleased to have reached its hard cap, with $687 million of commitments for the Fund.
“Healthcare real estate has performed relatively consistently throughout economic cycles. We believe that the macro healthcare industry trends continue to present very compelling investment opportunities. We will continue to draw on our longstanding experience in the healthcare industry as an investor and operator to capitalize on this opportunity for our investors,” said Jon Hammes, founder and Managing Partner of Hammes.
Similar to prior funds, Hammes will focus on outpatient facilities, including investments in existing assets, development and adaptive reuse projects. “Hammes has been successfully executing this strategy for over 15 years, leveraging our deep industry relationships and insights to proactively target and invest in healthcare facilities across the U.S. We are pleased with the quality of the portfolio and our robust investment pipeline. We believe that we are very well positioned to continue our successful investment strategy on behalf of Fund III investors,” says Todd Kibler, Principal of Hammes Partners.
Investors in the Fund include endowments, foundations, pension funds, insurance companies, fund of funds, investment and wealth managers, and family offices. “We’re grateful for the high-quality group of limited partners who have placed their support with us during this important evolution of Hammes Partners and we remain highly committed to the success of our partnership,” says Patrick Hammes, Principal of Hammes Partners.
Hammes Partners is complemented by a suite of services offered by its affiliates, including Hammes Company Healthcare, a nationally recognized leader in the healthcare real estate services and advisory industry that was founded in 1993.
Probitas Partners served as placement agent and Gibson, Dunn & Crutcher LLP served as legal counsel in the fund formation of Fund III. “Hammes’ successful fundraise demonstrates investors’ confidence in Hammes’ strategy and their teams’ distinct capabilities. We are very pleased to have worked with Hammes and believe that this over-subscribed recent fund reaffirms Hammes’ position as the leading dedicated U.S. private equity healthcare real estate investment manager,” says Jane Harris, Probitas Partners.