Vistria Group Closes $3 Billion Fund Led by Barack Obama Ally
Vistria Group, a private equity firm co-founded by Marty Nesbitt, a close ally of Barack Obama, closes a $3 billion fund to boost its assets to $16 billion.
Vistria Group LP, a private equity firm known for investing in midsize companies, has successfully closed a $3 billion fund, boosting its assets under management to approximately $16 billion.
The firm, which specializes in health care, education, and financial services, aims to continue its growth and impact through this latest investment vehicle, its fifth and largest to date. The new fund marks a significant step for Vistria as it continues to build on its mission of combining financial returns with positive social impact.
Founded in 2013 by Kip Kirkpatrick and Marty Nesbitt, a close ally of former President Barack Obama, Vistria has expanded its influence within the private equity space. Nesbitt’s long-standing connections to Obama have shaped the firm’s political and social approach to investing. This expansion was further solidified in November with the appointment of former Massachusetts Governor Deval Patrick as a senior partner, having joined the firm earlier as a senior adviser.
Advertisement
Despite the firm’s growth, Vistria has also encountered legal challenges. Recently, it was involved in a lawsuit related to a home hospice company investment. A Delaware court ruling in December found that Vistria, alongside Nautic Partners LLC, facilitated the unlawful creation of a rival business by former hospice company officers.
The closing of Vistria’s $3 billion fund was initially reported by the Wall Street Journal.
Also Read: The 7 Health Insurance Companies Dominating 75% of the U.S. Market
