Jim Momtazee walked away from private equity giant KKR to strike out on his own. Now the legendary healthcare dealmaker is poised to break records with his new firm.
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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