Healthcare-focused investment firm Frazier Healthcare Partners has closed its 10th dedicated healthcare private equity fund focused on the middle market. Frazier Healthcare Growth Buyout Fund X LP (FHGB X) was oversubscribed and hit its hard cap of $1.4 billion in total capital commitments.

The offering garnered strong support from new and existing limited partners, which represent some of the most prestigious public pension funds, financial institutions, foundations and endowments, family offices, corporate pensions and sovereign wealth funds with commitments coming globally from investors in the United States, Europe, the Middle East and Asia. The majority of investors from its previous fund, FHGB IX, increased commitments for FHGB X.

“We are humbled and grateful for the continued support and partnership of our long-time investors and are pleased to welcome a blue-chip group of new investors into the Frazier family,” said Nader Naini, co-managing partner at Frazier. “The global interest in our fund is a testament to our unique strategy and proven track record of developing market-leading healthcare companies.”

Frazier focuses on acquiring controlling interests in healthcare companies with EBITDA between $10 million and $75 million where it can invest between $50 million and $300 million of equity. Investments can take the form of corporate carve-outs of private and publicly traded companies, recapitalizations and buy-and-build strategies.

Recent investments include the corporate carveout of MedData from Mednax in October 2019. MedData is a provider of technology-enabled revenue cycle management services for hospitals, health systems and healthcare providers.