Ares brings on Bobby Jindal, completes $1.5B healthcare deal
August 17, 2017
Former two-term Louisiana governor Bobby Jindal has reportedly agreed to become an operating advisor for Ares Management, working primarily with the firm's private equity arm on healthcare investments. The 46-year-old has experience in the sector, having previously worked at the US Department of Health and Human Services during the George W. Bush presidency and as head of Louisiana's health department.
In a separate healthcare-related development, the Los Angeles-based Ares has paid $1.45 billion to acquire a stake in DuPage Medical Group from Summit Partners, which previously invested $250 million in the Chicago-based physician group in 2015. The deal continues a recent surge of PE investments in the US clinics and outpatient services sector. Last year brought a decade-high 198 deals, per the PitchBook Platform—a 31% YoY increase—and investors are on pace to nearly equal that figure in 2017.