Hark Capital Closes $50 Million NAV Facility
Hark Capital proudly announces the closing of a significant $50 million Net Asset Value (NAV) facility in partnership with Pharos IV-A, L.P. This middle-market private equity fund is dedicated to enhancing healthcare companies that prioritize improving patient care, expanding access to underserved communities, and lowering the overall healthcare costs. The funds generated from this facility will support both new and existing investments in the healthcare portfolio managed by Pharos.
A Strong Partnership in Healthcare Investment
Rafael Castro, Partner at Hark Capital, expressed excitement about the growing collaboration, stating, "We are thrilled to build on our long-standing relationship with Pharos Capital Group and support their mission of investing in high-impact healthcare companies." This financing represents the third partnership between these firms, highlighting Hark's commitment to nurturing enduring middle-market enterprises.
Support for Innovative Healthcare Solutions
Joel Goldberg, a Partner at Pharos Capital Group, added, "We value Hark Capital's partnership and their ability to deliver flexible financing solutions that align with our strategy of building healthcare companies that expand access and improve outcomes." The financing arrangement takes advantage of the credit strength and diverse portfolio of Pharos IV-A, ensuring that both parties can attract ideal capital resources.
About Hark Capital
Founded in 2013, Hark Capital is a subsidiary of P10, Inc. (NYSE: PX). It has established itself as a leader in providing innovative non-dilutive fund finance solutions specifically tailored for middle-market private equity sponsors. The focus remains on NAV-based and management company facilities. To date, Hark Capital has successfully deployed over $1.7 billion in more than 130 transactions working with over 60 sponsors across North America and Europe.
Continued Growth and Support
With an emphasis on creativity and sustainability, Hark Capital aims to provide lasting support to its partner organizations, ensuring they have access to crucial financing options as they navigate the complexities of the healthcare space. This strategy amplifies the growth of companies that positively impact patient care.
About Pharos Capital Group
Pharos Capital Group operates from its offices in Dallas and Nashville and is known for being founded by physicians. The firm is committed to the advancement of healthcare companies focused on lowering care costs, enhancing patient outcomes, and improving access to care in regions that typically have fewer resources. As of the latest reports, Pharos has invested in 61 companies and manages over $900 million in private equity assets.
Target Investments and Strategy
Pharos typically directs investments ranging from $25 million to $50 million into rapidly expanding middle-market companies that seek funding for internal growth, acquisitions, leveraged buyouts, management buyouts, or recapitalizations, with a focus primarily on the healthcare sector. Through this strategy, Pharos is helping to shape the future of healthcare, ensuring that vital services are accessible to all.
Frequently Asked Questions
What is the purpose of the $50 million facility?
The $50 million facility is intended to support new and existing investments in healthcare companies managed by Pharos Capital Group.
Who is Hark Capital?
Hark Capital is a finance firm providing innovative, non-dilutive fund finance solutions, focusing on supporting middle-market private equity sponsors.
What is Pharos Capital Group's investment focus?
Pharos Capital Group is dedicated to investing in healthcare companies that address cost reduction, improve patient outcomes, and expand access to care.
How long has Hark Capital been in operation?
Hark Capital was founded in 2013 and has grown significantly in the fund finance sector since its inception.
What impact does Hark Capital aim to make in healthcare?
Hark Capital aims to support companies that improve the overall patient experience and ensure high-quality care is accessible to underserved communities.
