About This Fund
Hildred Capital is a New York-based healthcare-focused private equity firm that invests in operationally intensive, control-oriented companies within the lower middle market. Hildred Equity Partners III is the firm's third flagship buyout fund, reaching a final close in excess of $800 million in January 2025 — significantly oversubscribed beyond its $600 million target and exceeding the hard cap in just seven months. The close marked a more than doubling of the predecessor fund's $363 million size, reflecting strong continued investor demand for Hildred's healthcare strategy.
The fund targets control-oriented investments in lower middle-market healthcare companies operating across commercial-stage pharmaceutical and OTC products, care delivery services, medical devices, life science tools and diagnostics, outsourced pharmaceutical and clinical services, and healthcare IT and technology-enabled services. Hildred emphasizes operationally intensive businesses where active management and strategic guidance can materially improve patient outcomes, expand access to care, and reduce healthcare costs. General partners committed over $60 million alongside limited partners.
Hildred Equity Partners III supports Hildred Capital's total AUM of approximately $2.65 billion across all vehicles. The firm's investor base spans public pension plans, insurance companies, financial institutions, endowments, private wealth platforms, family offices, and high-net-worth individuals. Capital deployment began in the first quarter of 2025. Preceding funds — Hildred Equity Partners I and II — established the firm's healthcare buyout approach in the lower middle market, with Fund II closing at $363 million in 2021.