This story is available exclusively to Insider subscribers.Jim Momtazee was KKR's top healthcare dealmaker before leaving the private equity giant in 2019.Healthcare is a red-hot sector. But, the pandemic has made it even harder for new investment firms to raise funds.for their private-equity firm, KKR & Co., Jim Momtazee found himself in an enviable position.that has led multibillion-dollar takeovers of RJR Nabisco, Safeway, and HCA Healthcare., with $429 billion under management.
"I was both surprised because he was such a long-tenured guy there — and I'm not just talking about the healthcare side; he had been at KKR for a long time — but I also can see the appeal to Jim of doing something that's a little bit more about him than a larger organization and gives him some more freedom," said Bruce Cozadd, CEO of Jazz Pharmaceuticals, which KKR invested in.
At $3 billion, Patient Square would set a record as the largest first-time fund ever raised in healthcare. It would also be one of the five largest first-time private-equity funds ever raised, according to PitchBook. "It's an easy decision to invest with a brand. It's a more difficult decision to invest with a new firm," said former Barclays CEO Bob Diamond, who started his own investment firm, Atlas Merchant Capital, in 2013.
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