Fund II exceeds $700 million target

Ascend Capital Partners (“Ascend”), a healthcare-focused private equity firm dedicated to improving access, affordability, and quality of healthcare for underserved and vulnerable populations, today announced the final close of Ascend Capital Partners Fund II, L.P. and Parallel Vehicles (“Ascend Fund II”) with $791 million in total commitments, exceeding Ascend Fund II’s initial $700 million target.

Ascend Fund II received strong support from both existing and new limited partners across major investor categories, including public and private pension funds, foundations, endowments, consultants, family offices, and funds of funds, underscoring continued alignment with Ascend’s mission, investment strategy, and operating approach. Ascend’s inaugural fund closed at its $570 million hard cap in December 2021 and is now fully deployed across eight investments.

Building on its inaugural fund, Ascend Fund II will invest across physician and provider services, value-based care enablement companies, and healthcare IT, applying Ascend’s operational expertise to strengthen healthcare delivery operations. The firm will continue partnering with physicians, clinical leaders, and management teams to build scaled platforms that strengthen clinical quality, enhance operational performance, and support sustainable growth.

“We are grateful for the support from our limited partners for Ascend Fund II, reflecting their confidence in our mission, strategy, and the meaningful progress we have achieved alongside our portfolio companies,” said In Seon Hwang, Managing Partner at Ascend. “We look forward to building on our momentum and remain focused on partnering closely with physicians and management teams to build stronger healthcare organizations that improve patient outcomes while generating durable, long-term value.”

“We invest in and support efforts designed to strengthen healthcare quality, expand access, and improve patient outcomes,” added Dr. Richard Park, Managing Partner at Ascend. “Our differentiated operating expertise and dedicated in-house resources enable us to partner closely with physicians and management teams to strengthen clinical performance, enhance compliance and documentation integrity, and build scaled platforms positioned for sustainable growth and long-term impact.”

Ascend Fund II is actively deploying capital, with investments made in Seoul Medical Group and Unison Therapy Services.

Advisors
Kirkland & Ellis served as legal counsel to Ascend. William Blair acted as exclusive placement agent for Ascend Fund II. Joele Frank, Wilkinson Brimmer Katcher served as strategic communications advisor.

About Ascend Capital Partners
Ascend Capital Partners is a private equity firm focused on investing in healthcare services, value-based care enablement, and healthcare IT companies that improve access, affordability, and quality of care for underserved and vulnerable populations. Ascend partners with mission-aligned management teams to build scalable, high-impact healthcare platforms.

For more information, please visit www.ascendpartners.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260224534500/en/