GMF Capital, a New York-based private alternative investment firm specializing in healthcare, real estate, and private equity, has acquired a minority interest in Dallas-based East Lake Capital Management, an investment management firm specializing in healthcare and real estate, for a reported $95 million.
East Lake and certain funds managed by its affiliates have interests in the likes of assisted living and skilled nursing properties.
According to GMF, it partnered with East Lake in multiple healthcare investments before deciding to obtain a stake in the company. GMF chose to invest in the Dallas firm because of “its consistent strategy of investing in and alongside unique investment managers.”
East Lake was previously solely owned by Andrew White, who founded the company two years ago. “We are thrilled to expand our relationship with GMF,” he said in a statement. “They are insightful and principled investors who add tremendous value as partners.”