Waud Capital Partners closed a single-asset continuation fund in connection with the recapitalization of its portfolio company Ivy Rehab Physical Therapy. Ivy is a provider of outpatient therapy services across the Northeast, Mid-Atlantic, Southeast, and Midwest regions of the United States through a network of more than 450 clinics that includes approximately 100 dedicated pediatric therapy clinics.
The continuation fund, sponsored by WCP, has been supported by new and returning limited partners and is anchored by funds managed by Morgan Stanley Private Equity Secondaries Team. WCP, its existing limited partners, and Ivy management reinvested significant proceeds into the continuation fund as part of the transaction. Read more.
