Ampersand Capital Partners closes $1.5bn AMP-26 fund at hard cap in under five months

US-based global healthcare and life sciences investor Ampersand Capital Partners has closed its latest fund, Ampersand 2026, at a hard cap of $1.5 billion (€1.27 billion) in limited partner commitments, completing a single close less than five months after launch in what the firm described as an oversubscribed raise.

According to Investors in Healthcare, the fund Ampersand's twelfth primary vehicle since its founding in 1992, attracted support from a diversified and global base of institutional investors including endowments, foundations, pension plans, insurance companies, funds of funds and family offices. The breadth of that investor base reflects the sustained institutional confidence in dedicated healthcare private equity as an asset class, even as broader fundraising conditions across alternative investments have remained challenging.

Ampersand intends to continue its established investment strategy of partnering with healthcare entrepreneurs through both majority and minority investments in companies generating between $10 million (€8.5 million) and $200 million (€169 million) in revenue with positive EBITDA, a profile that targets operationally mature businesses rather than early-stage ventures.

Managing partner Herb Hooper said the fund's mandate is focused on building strategically important businesses within the healthcare and life sciences ecosystem. "This strategy is focused on partnering with founders and management teams to build market-leading companies that provide mission-critical tools and services to the innovation ecosystem within healthcare and life sciences."

The swift close at hard cap underscores the competitive demand for healthcare-dedicated private equity vehicles with a clear operational thesis. Ampersand's focus on founder and management-led businesses with established revenue and positive EBITDA profiles has distinguished it within a crowded field of healthcare investors competing for institutional capital.

Read the full story on Ampersand's fund close in the complete story.