What Hildred Capital does

Hildred Capital Management, LLC is a New York City-based private equity investment firm specializing in lower middle-market healthcare companies. Founded in 2014 by Howard Solomon (former Chairman and CEO of Forest Laboratories), David Solomon (former SVP Corporate Development at Forest Labs), and Andrew Goldman (former CIO at Forest Labs) following the $28 billion sale of Forest Laboratories to Actavis, the firm originally operated as a family office before transitioning to institutional private equity with the launch of Hildred Equity Partners II in 2022. Hildred targets healthcare companies with $10-100 million in revenue, $50-500 million in enterprise value, and makes equity investments of $25-300 million, focused on sub-sectors including healthcare services, infusion, dermatology, medical aesthetics, consumer health, medical devices, diagnostics, and pharma services.

The firm has executed 14 platform investments since inception and manages approximately $4 billion in assets under management, deployed across three institutional vehicles: HEP II ($362.5M, February 2022), a multi-asset continuation fund ($750M+, March 2024, led by Lexington Partners), and HEP III ($800M+, January 2025). Hildred's value creation approach emphasizes operational improvements, organic revenue growth, margin expansion, and M&A support — explicitly avoiding multiple expansion and aggressive leverage as primary return drivers. The firm operates with a lean team of 11-50 employees but oversees more than 3,000 employees across its portfolio companies, applying a proprietary "value creation playbook" and deep industry network cultivated through the founders' Forest Laboratories tenure to source and scale portfolio companies toward strategic exits.

Notable portfolio companies include Tebra (EHR+ platform, $250M financing in December 2025), OrangeTwist (med spa platform, 24 locations across 6 states), AleraCare/Pure Healthcare (national ambulatory infusion platform, 14 states post-merger), SportsMed Physical Therapy (55 outpatient rehab locations), DermCare Management (68+ dermatology practice locations), Crown Laboratories (specialty pharma/dermatology), Butterfly Network (portable ultrasound, taken public via SPAC at ~$1.5B), Pharmaceutics International (CDMO), and Healthcare.com (health insurtech). Hildred is recognized on Inc.'s Founder-Friendly Investors list in both 2024 and 2025, reinforcing its positioning as a partner-of-choice for founder-led healthcare businesses.

Name

Hildred Capital

Legal name

Hildred Capital Management, LLC

Website

https://hildred.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

Hildred Capital Management is a New York City-based private equity firm that invests $25-300 million in lower middle-market healthcare companies ($10-100M revenue). Founded in 2014 by the former Forest Laboratories leadership team, the firm manages approximately $4 billion in AUM across 14 platform investments.

Ownership category

akta.pro rank

Product category

Healthcare Private Equity

NAICS

Finance and Insurance (52)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Real Estate / PropTech Growth Equity (FSANACAH)

Keywords

• Healthcare private equity
• Growth equity investing
• Middle-market buyouts
• Portfolio company management
• Healthcare sector investing

Headquarters

HQ city

Nyack

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Private Equity Returns: Hildred generates returns through equity ownership in portfolio companies, creating value via operational improvements, strategic growth initiatives, margin expansion, financing, and M&A to drive earnings and cash flow growth. Returns realized through exit events including sales, mergers, and public offerings.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Hildred Capital is a healthcare-focused private equity firm that invests control-oriented equity capital of $25-300 million in lower middle-market healthcare companies with $10-100 million in revenue and $50-500 million in enterprise value. The firm partners with founders and management teams to drive value through operational improvements, organic revenue growth, margin expansion, and M&A initiatives across healthcare services, medical devices, consumer health, pharma services, and aesthetics sub-sectors. Returns are generated through equity ownership and realized via exit events such as strategic sales, mergers, and public offerings.

Differentiator

Problem solved

Functional benefit

Brands

• Hildred Equity Partners: The firm's private equity fund brand, including HEP I, HEP II, HEP III, and HPP I.
• Hildred Capital Partners

Products and services

• Hildred Capital Management - Private Equity Investment Services Healthcare-focused private equity investment management firm providing control-oriented equity capital, operational expertise, and strategic support to lower middle-market healthcare companies with revenues of $10-100 million and enterprise values of $50-500 million. Services include asset identification and selection, value creation through operational improvements, M&A support, and exit strategy execution for portfolio companies and limited partners.
• Hildred Equity Partners II Fund First institutional private equity fund for healthcare investments with $362.5 million in capital commitments, used to make control-oriented equity investments of $25-300 million in lower middle-market healthcare companies. Limited partners include third-party institutional investors.
• Hildred Multi-Asset Continuation Fund Multi-asset continuation fund with capital commitments exceeding $750 million, led by Lexington Partners, providing additional capital to support existing portfolio company investments and create a secondary market opportunity for limited partners.
• Hildred Equity Partners III Fund Third institutional private equity fund with capital commitments exceeding $800 million (oversubscribed), used to make control-oriented equity investments in lower middle-market healthcare companies. Third-party institutional investors participate as limited partners.

Named customers14 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Longview Acquisition Corp.coreStrategic or Co-development Partner · 20 November 2020Business combination partner for Butterfly Network's NYSE listing via SPAC merger. Transaction valued the company at approximately $1.5 billion.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Welsh, Carson, Anderson & Stowe: One of the largest and most established healthcare/technology-focused PE firms in the US, with growth equity orientation and a focus on building healthcare leaders. Closely comparable to Hildred in healthcare specialization and lower middle-market orientation.
• New Mountain Capital: Growth-oriented PE firm with one of the deepest healthcare focuses in the industry, investing across healthcare services, pharma, and tech-enabled healthcare. Closely comparable to Hildred in sector focus and growth equity approach.
• Linden Capital Partners: Healthcare-only middle-market PE firm that invests across healthcare services, products, and distribution. Direct competitor for similar deal profiles and portfolio construction strategies as Hildred.
• Varsity Healthcare Partners: Lower middle-market healthcare PE specialist focused on founder-led and entrepreneur-backed healthcare businesses. Most directly comparable to Hildred on deal size, sector focus, and partnership-driven approach.
• Avista Capital Partners: Middle-market healthcare-focused PE firm with deep healthcare services and products experience. Comparable in fund size and healthcare specialization to Hildred.
• Ampersand Capital Partners: Specialist PE firm focused exclusively on healthcare/life sciences, with similar lower middle-market orientation and growth equity approach. Competes for similar healthcare deal flow as Hildred.
• GTCR: Long-tenured healthcare and tech-focused PE firm known for the 'Leaders Strategy' of partnering with executives to build healthcare platforms. Closely comparable in healthcare specialization and operationally-driven value creation approach to Hildred.

Broad incumbents

• KKR (Healthcare Strategic Growth): KKR's healthcare-dedicated growth equity platform, investing across healthcare services, life sciences, and healthcare tech at scale. Larger and broader than Hildred but directly competes for healthcare growth equity deals.
• Bain Capital Life Sciences: Bain Capital's dedicated life sciences and healthcare investment platform, with significantly larger AUM and broader sector coverage. Competes for healthcare deals and represents the incumbent alternative to specialist firms like Hildred.
• TPG (Capital Healthcare): TPG's dedicated healthcare investment platform spanning services, pharma, and digital health. Larger, broader, and more established than Hildred but with overlapping healthcare deal flow.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hildred-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hildred Capital