DFX Intelligence
Private Equity Intelligence
Firms, funds, people, portfolio companies and transactions from sworn filings and cited announcements, kept as a graph with a date and a source on every edge. Reported gross assets are never fund size, regulatory AUM is never dry powder, and a deal value prints only when someone disclosed it.
Firms / Frazier Healthcare Partners
Frazier Healthcare Partners
Growth equity · probableMiddle marketSeattle, WAfrazierhealthcare.comSEC registered investment adviser
With its purpose-driven culture and deep industry expertise, the Frazier Growth Buyout team is the preferred partner to profitable healthcare companies.
Classification
- Class
- Growth equityprobable, confidence 70%
- Basis
- R2: 9 of 13 private equity vehicles are named growth
- Size band
- Middle marketdefined by: proxy: $4.61bn Private Equity Fund GAV on the Form ADV filed 2024-03-30
- Strategies
- GROWTH EQUITY
Classification history (1)
- Sep 13, 2026Growth equity (probable, 70%, cls-pe-1)R2: 9 of 13 private equity vehicles are named growth
Regulatory footprint (Form ADV)
- Adviser type
- registered investment adviser
- Form ADV filings
- Mar 30, 2012 to Mar 30, 2024
- RAUM
- $5.2Bregulatory assets under management of the adviser; not dry powder, not a fund size
- PE funds, latest filing
- 16
- PE fund GAV, latest filing
- $4.6Breported gross assets (Form ADV), not fund size
- All private fund GAV
- $4.7Bevery private fund type, latest filing
- 2024 PE fund GAV
- $4.5Bsum over funds typed Private Equity Fund with a 2024 or later as-of date
- PE share of funds, lifetime
- 64%
- Fund type mix
- filed 2024-03-30, latest gav Private Equity Fund $4.6B, Venture Capital Fund $73.7M, latest counts Private Equity Fund 16, Venture Capital Fund 1, lifetime distinct Private Equity Fund 18, Venture Capital Fund 10
- Employees
- 78
- Headquarters
- Seattle, WA
- Office address
- 601 UNION STREET, SUITE 3200, Seattle, WA, 98101
- Business phone
- 206-621-7200
Stated criteria beside observed behaviour
52 observed deals
Stated by the firm
- Sectors
- healthcare, manufacturing, life sciences, technology, infrastructure, transportation logistics, software, industrials, business services, financial services, environmental services, media telecom, consumer
- Geography
- not stated or not yet read
- Revenue
- from $400M
- EBITDA
- not stated or not yet read
- Enterprise value
- not stated or not yet read
- Equity check
- not stated or not yet read
- Control
- not stated or not yet read
- Thesis
- We partner with profitable and growing companies across healthcare to drive scale and long-term value
Observed from deals on record
- roles
- add on 2, unknown 48, platform 2
- period
- to 2026-09-11, from 2021-12-15, undated holdings 50, dated observations 4
- window
- last 2026-09-11, first 2021-12-15
- control
- control 2, unknown 50
- companies
- 52
- geography
- count 1, share 0.019, value MD
- investments
- 52
- seller kinds
- sponsor 1
- transactions
- 2
- cadence by year
- 2021 add ons 1, 2026 add ons 1
- platform add on
- add ons 2, platforms 2, add ons per platform unknown
- sector known for
- 4
- disclosed value usd
- n 0
- sector distribution
- count 4, share 0.077, value healthcare services, examples Leiters, Effective School Solutions (ESS), Caravel Autism, Solis
- holding period years
- n 0
- repeat counterparties
- subsector distribution
- count 2, share 0.038, value outpatient mental health substance, examples Effective School Solutions (ESS), Caravel Autism, count 1, share 0.019, value outpatient specialty clinics, examples Leiters, count 1, share 0.019, value medical diagnostic labs, examples Solis
52 companies on the graph (2 transactions); most in healthcare services (4); 2 platforms and 2 add-ons; observed 2021 to 2026
Funds
16 on record, 2 more on the reporting tape
| Fund | Vehicle | Vintage | Reported gross assets (Form ADV), not fund size | GAV by year | Form D sold | Lifecycle |
|---|---|---|---|---|---|---|
| FH Sunrise Co-Investment I, LP ADV: Private Equity Fund | Co-investment vehicle | 2022 first reported on Form ADV | $715M as of Mar 30, 2024 | no Form D | Early deployment | |
| Frazier Pacific Partner, LP ADV: Private Equity Fund | buyout or unlabelled | 2022 first reported on Form ADV | $61.3M as of Mar 30, 2024 | no Form D | Unknown | |
| Frazier Healthcare Growth Buyout Affiliates X, L.P. ADV: Private Equity Fund | Growth fund | 2022 first reported on Form ADV | $8.2M as of Mar 30, 2024 | no Form D | Unknown | |
| FH Csf Holdings, LLC ADV: Private Equity Fund | buyout or unlabelled | 2021 first reported on Form ADV | $651M as of Mar 30, 2024 | no Form D | Unknown | |
| Frazier Healthcare Growth Buyout Fund X, L.P. ADV: Private Equity Fund | Growth fund | 2021 first reported on Form ADV | $430M as of Mar 30, 2024 | no Form D | Unknown | |
| Frazier Healthcare Growth Buyout Fund X Pv, L.P. ADV: Private Equity Fund | Growth fund | 2021 first reported on Form ADV | $420M as of Mar 30, 2024 | no Form D | Unknown | |
| Frazier Healthcare Growth Buyout Fund Ix, L.P. ADV: Private Equity Fund | Growth fund | 2018 first reported on Form ADV | $1.1B as of Mar 30, 2024 | no Form D | Unknown | |
| Frazier Healthcare Growth Buyout Fund Ix Pv, L.P. ADV: Private Equity Fund | Growth fund | 2018 first reported on Form ADV | $338M as of Mar 30, 2024 | no Form D | Unknown | |
| Mercury Fortuna Buyer, LLC ADV: Private Equity Fund | buyout or unlabelled | 2018 first reported on Form ADV | $225M as of Mar 30, 2024 | no Form D | Harvest | |
| Frazier Healthcare Growth Buyout Affiliates Ix, L.P. ADV: Private Equity Fund | Growth fund | 2018 first reported on Form ADV | $12.0M as of Mar 30, 2024 | no Form D | Unknown | |
| Targa Frazier Holdings, LLC ADV: Private Equity Fund | buyout or unlabelled | 2018 first reported on Form ADV | $3.6M as of Mar 30, 2024 | no Form D | Unknown | |
| Frazier Healthcare Growth Buyout Fund Viii Pv, L.P. ADV: Private Equity Fund | Growth fund | 2017 first reported on Form ADV | $173M as of Mar 30, 2024 | no Form D | Unknown | |
| Frazier Healthcare Growth Buyout Affiliates Viii, L.P. ADV: Private Equity Fund | Growth fund | 2017 first reported on Form ADV | $4.9M as of Mar 30, 2024 | no Form D | Unknown | |
| Frazier Healthcare Growth Buyout Fund Viii, L.P. ADV: Private Equity Fund | Growth fund | 2016 first reported on Form ADV | $337M as of Mar 30, 2024 | no Form D | Unknown | |
| Frazier Healthcare VII (cayman), L.P. ADV: Private Equity Fund | Feeder or parallel | 2015 first reported on Form ADV | $118M as of Mar 30, 2020 | no Form D | Wound down | |
| Frazier Healthcare Vii-A (cayman), L.P. ADV: Private Equity Fund | Feeder or parallel | 2015 first reported on Form ADV | $33.5M as of Mar 30, 2020 | no Form D | Wound down |
Gross assets by year from the annual reporting tape
These funds appear in this adviser’s Form ADV reporting. One row per fund per year (the latest filing of that year). Values are reported gross assets, not fund size.
| Fund | Type (ADV) | Years | Path | Latest reported GAV | Source |
|---|---|---|---|---|---|
| Frazier Healthcare VII, L.P. | Private Equity Fund | 2014 to 2021 | $305M filed Nov 2, 2021 | adviserinfo.sec.gov | |
| Frazier Healthcare Vii-A, L.P. | Private Equity Fund | 2014 to 2021 | $91.7M filed Nov 2, 2021 | adviserinfo.sec.gov |
Team
36 current, 5 former
Managing partner (3)
- BEN Magnano · Managing Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Nader Jafari Naini · Managing Partner · since Jun 1, 1992 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- Nader Jafari Naini · Managing Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Partner (8)
- BEN Magnano · Sole Shareholder · since Jan 1, 2021 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- Brian Morfitt · General Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Brian Morfitt · General Partner · since Jan 1, 2016 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- Christina Reszka · General Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Kent Berkley · Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Nathan R Every · Sole Shareholder · since Jan 1, 2021 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
- Philip Zaorski · General Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Ryan Lucero · General Partner · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Principal (3)
- Clarissa Berman · Principal · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Jeremy Janson · Principal · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Shyamal Swami · Principal · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Vice president (13)
- Alex Saunders · Senior Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Andrew Wu · Vice President · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Charles Nenichka · Senior Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Daniel Ewnetu · Senior Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Ilene Cheung · Senior Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Jack Trunzo · Vice President · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- James Thompson · Senior Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Jennifer Zhuang · Vice President · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Laura Tang · Senior Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Luke Ostrander · Senior Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Matt Hinshaw · Vice President · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Michael Machak · Vice President · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Mike Gawlik · Vice President · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Associate (7)
- Adam Rubinger · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Alex Adams · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Gavin Calabretta · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Jafar Sharipov · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- John Froman · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Maggie Mckay · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
- Nathan Marks · Associate · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
Platform (1)
- Steve Ray Bailey · Chief Financial Officer & Chief Compliance Officer · since Jun 1, 2003 SEC Form ADV filing data 2011 to 2024 (Schedule D 7.B.(1) private funds, Schedules A/B, 1.I websites)
Other (1)
- Nathan R Every · MD · start date unknown Investment organization websites (team, portfolio, strategy, criteria, news)
5 former (kept with end dates)
- Alan David Frazier · Sole Shareholder · Aug 1, 1991 to Mar 29, 2016 Inference
- Alan David Frazier · Shareholder · Aug 1, 1991 to Mar 31, 2021 Inference
- James Topper · Member · Apr 1, 2013 to Mar 31, 2022 Inference
- Patrick Heron · Member · Apr 1, 2014 to Mar 31, 2022 Inference
- Thomas Scott Hodge · Chief Operating Officer · Jul 1, 2000 to Mar 31, 2014 Inference
Portfolio
52 relationships, 2 platforms, 2 add-ons
Transactions
3 on record
| Date | Type | Target | This firm’s role | Source |
|---|---|---|---|---|
| Sep 11, 2026 | Add-on acquisition | Two Ambulatory Infusion Centers | Sponsor (confirmed) | prnewswire.com |
| May 28, 2026 | Exit to a strategic buyer | Altruix | Strategic acquirer (confirmed) | prnewswire.com |
| Dec 15, 2021 | Add-on acquisition | Softbox Systems | Sponsor (confirmed) | gppfunds.com |
Placement agents, lenders, advisers and co-investors
3 relationships
Financial advisers (1)
- Baird 1 shared · one time · last Dec 15, 2021
Co-investors (2)
- Thomas H. Lee Partners 1 shared · one time · last Dec 15, 2021
- Thomas H. Lee Partners 1 shared · one time · last Dec 15, 2021
LP commitments
5 disclosed
- Washington State Investment Board $10.0M sib.wa.gov
- Washington State Investment Board $40.0M sib.wa.gov
- Washington State Investment Board $40.0M sib.wa.gov
- California State Teachers' Retirement System $100M calstrs.com
- California State Teachers' Retirement System $47.5M calstrs.com
Events
7 most recent
- Jun 18, 2026Frazier Healthcare Partners: Private Equity Funds on Form ADV 16 (2024 extract) -> 24 (roster 2026-09-01)
- Dec 31, 2025Washington State Investment Board reports Frazier Healthcare II, L.P.: $10,000,000 committed, vintage 1996, net IRR 6.9%Lp commitment disclosedFactWashington State Investment BoardPublic pension private-markets disclosures, read through the venture lane's LP report tape
- Dec 31, 2025Washington State Investment Board reports Frazier Healthcare III, L.P.: $40,000,000 committed, vintage 1998Lp commitment disclosedFactWashington State Investment BoardPublic pension private-markets disclosures, read through the venture lane's LP report tape
- Dec 31, 2025Washington State Investment Board reports Frazier Healthcare IV, L.P.: $40,000,000 committed, vintage 2001, net IRR 0.7%Lp commitment disclosedFactWashington State Investment BoardPublic pension private-markets disclosures, read through the venture lane's LP report tape
- Jun 30, 2025California State Teachers' Retirement System reports Frazier Healthcare Growth XI: $100,000,000 committed, vintage 2025, net IRR 0.0%Lp commitment disclosedFactCalifornia State Teachers' Retirement SystemPublic pension private-markets disclosures, read through the venture lane's LP report tape
- Jun 30, 2025California State Teachers' Retirement System reports Frazier Healthcare Ventures V, L.P.: $47,473,830 committed, vintage 2005, net IRR 14.7%Lp commitment disclosedFactCalifornia State Teachers' Retirement SystemPublic pension private-markets disclosures, read through the venture lane's LP report tape
- Mar 30, 2012Frazier Healthcare Partners first filed Form ADV in the extract (ERA)
Across the graphs
Frazier Healthcare Partners is the same institution as 4 records in Venture Capital, Independent Sponsors, RIA and Wealth and Allocators.
Venture Capital1Independent Sponsors1RIA and Wealth1Allocators1
Which record it is in each graph, what it is called there, and what the two were joined on. The Data Factory holds all nine graphs and the identity layer between them.
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