Healthcare-focused investment manager Frazier Healthcare Partners announced it is complementing its private equity strategy with a new structured solutions team run by a trio of industry veterans most recently with Silicon Valley Bank’s investment platform business, SVB Capital.
The new investment vertical, Frazier Healthcare Structured Solutions, will be “focused on providing flexible capital to lower middle market healthcare companies,” the Seattle-based firm said in a news release announcing the launch. The team will include J.P. Michael, Douglas Hollenbeck, and Hannah Maatallah, all three of whom were most recently with SVB Capital.
Michael spent over five years at SVB and predecessor funds at WestRiver Group, where he was a member of the investment committee and senior MD focused on leveraged buyout, growth capital, and venture debt lending to healthcare and technology companies. Prior to that he spent over 20 years with Comerica Bank and joins Frazier as a general partner.
Hollenbeck joins as a partner and also spent five years at SVB and WestRiver, where he was an MD on their private credit funds. Prior to that he spent eight years at Comerica Bank. Maatallah joins the new team as vice president. She spent two years at SVB Capital focusing on debt financing solutions and before that was an associate with parent Silicon Valley Bank.
SVB Capital was sold to affiliates of Pinegrove Capital Partners, backed by evergreen capital from Brookfield Asset Management and Sequoia Heritage, in a deal that closed in September 2024. Frazier most recently closed on its 11th flagship healthcare buyout fund in November 2024, closing at its $2.3B hardcap, as previously reported by Dakota.
