BPOC Secures $425 Million Continuation Fund with the assistance from Kirkland & Ellis

BPOC Secures $425 Million Continuation Fund with the assistance from Kirkland & Ellis

BPOC, a pure-play healthcare investor, has been advised by Kirkland & Ellis on a continuation fund worth $425 million that is co-led by investment funds affiliated with Apollo S3, Blackstone Strategic Partners, and Five Arrows.

The continuation fund includes five healthcare services companies that were previously held by Beecken Petty O’Keefe Fund IV, L.P. and Beecken Petty O’Keefe Fund IV-A, L.P. (together BPOC Fund IV), 2013 vintage funds that had a total combined capital commitment of $503 million.

As part of the transaction, the continuation fund will offer each portfolio company more time and, in certain cases, additional capital to further accelerate its full growth potential.

Existing investors in BPOC Fund IV were given the option to receive full liquidity or fully or partially reinvest in the new continuation fund.

Kirkland & Ellis was represented by a team of attorneys, including investment funds partners Dave Stults, Eric Fischer, and Scott Lenahan, along with associates Victor Ghazal, Michael Brar, Hannah Cloh, and Nir Levin.

Corporate partners Cole Parker and Matt Whited, and associates Chadney Rodgers and Emily Hartney, also played a crucial role in the transaction.

Additionally, the team included investment funds regulatory partner Josh Westerholm, as well as tax partners Mike Conroy and Dan Meehan.