Cressey & Co. snags Frist

Former Senator Bill Frist, R-Tenn., is the latest former Beltway insider to enter the world of private equity. While most former politicos tend to join the Carlyle Group and other well established firms, the former Senate majority leader has joined healthcare-focussed firm Cressey & Co. as a partner.

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The new firm, which is currently raising a $500 million first-time fund, is the product of the breakup of Thoma Cressey Bravo. Adding Frist, who is a medical doctor and the son of the founder of hospital chain HCA Inc., may go a long way in shoring up financial commitments for the fund. — Matthew Wurtzel

See story from peHUB
See TheDeal.com: Thoma, Cressey near splitsville
See TheDeal.com: HCA closes; takes RJR's record

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