Investment adviser · CRD 296583

HEALTHQUEST CAPITAL MANAGEMENT, L.P.

Investment adviser filing (IA)

AUSTIN, TX, United States · Form ADV filed Mar 30, 2026

Regulatory AUM
$1.78B
Form ADV · Item 5.F
Client accounts
11
Accounts, not individual clients
Employees
28
Reported in this filing
Advisory professionals
20
Investment advisory functions

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client typeClientsRegulatory assetsShare of AUM
Pooled investment vehicles11$1,777,766,571100.0%
Filing source

Form ADV 2083464 · Mar 30, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

13 Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

HEALTHQUEST PARTNERS IV, L.P.Venture Capital Fund · Last reported Mar 30, 2026$682MGross asset value

Form D fundraising filings

HealthQuest Partners IV, L.P.

Fund administrator HC GLOBAL FUND SERVICES, LLC WALNUT CREEK, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Fund administrator MWY FUND SERVICES, LLC REDWOOD CITY, California, United States Investor statements: Yes (provided to all investors) Related to adviser: Yes
Auditor BDO USA, LLP SAN FRANCISCO, California, United States
Custodian FIRST-CITIZENS BANK & TRUST COMPANY MENLO PARK, California, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED SAN FRANCISCO, California, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

BDO USA, LLP
PCAOB 243

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-6668493070
Reported beneficial owners
110
Minimum commitment
$0
Form D file number
021-439719

Form ADV 2083464 · Mar 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

HEALTHQUEST PARTNERS III, L.P.Venture Capital Fund · Last reported Mar 30, 2026$451MGross asset value

Form D fundraising filings

HealthQuest Partners III, L.P.

Fund administrator HC GLOBAL FUND SERVICES, LLC WALNUT CREEK, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Fund administrator MWY FUND SERVICES, LLC REDWOOD CITY, California, United States Investor statements: Yes (provided to all investors) Related to adviser: Yes
Auditor BDO USA, LLP SAN FRANCISCO, California, United States
Custodian FIRST-CITIZENS BANK & TRUST COMPANY MENLO PARK, California, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED SAN FRANCISCO, California, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

BDO USA, LLP
PCAOB 243

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-1051703145
Reported beneficial owners
90
Minimum commitment
$0
Form D file number
021-336397

Form ADV 2083464 · Mar 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

HEALTHQUEST TACTICAL OPPORTUNITIES FUND, L.P.Private Equity Fund · Last reported Mar 30, 2026$356MGross asset value

Form D fundraising filings

HealthQuest Tactical Opportunities Fund, L.P.

Fund administrator HC GLOBAL FUND SERVICES, LLC WALNUT CREEK, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Fund administrator MWY FUND SERVICES, LLC REDWOOD CITY, California, United States Investor statements: Yes (provided to all investors) Related to adviser: Yes
Auditor BDO USA, LLP SAN FRANCISCO, California, United States
Custodian 1ST CENTURY BANK, A DIVISION OF MIDFIRST BANK LOS ANGELES, California, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED SAN FRANCISCO, California, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

BDO USA, LLP
PCAOB 243

1ST CENTURY BANK, A DIVISION OF MIDFIRST BANK
LEI 337KMNHEWWWR6B7Q7W10

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-4203693521
Reported beneficial owners
4
Minimum commitment
$0
Form D file number
021-478579

Form ADV 2083464 · Mar 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

HEALTHQUEST PARTNERS II, L.P.Venture Capital Fund · Last reported Mar 30, 2026$91.2MGross asset value

Form D fundraising filings

HealthQuest Partners II, L.P.

Fund administrator HC GLOBAL FUND SERVICES, LLC WALNUT CREEK, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Fund administrator MWY FUND SERVICES, LLC REDWOOD CITY, California, United States Investor statements: Yes (provided to all investors) Related to adviser: Yes
Auditor BDO USA, LLP SAN FRANCISCO, California, United States
Custodian FIRST-CITIZENS BANK & TRUST COMPANY MENLO PARK, California, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED SAN FRANCISCO, California, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

BDO USA, LLP
PCAOB 243

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-7177103036
Reported beneficial owners
54
Minimum commitment
$0
Form D file number
021-254301

Form ADV 2083464 · Mar 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

HEALTHQUEST MADISON SPV, L.P.Venture Capital Fund · Last reported Mar 30, 2026$57.5MGross asset value

Form D fundraising filings

HealthQuest Madison SPV, L.P.

Fund administrator HC GLOBAL FUND SERVICES, LLC WALNUT CREEK, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Fund administrator MWY FUND SERVICES, LLC REDWOOD CITY, California, United States Investor statements: Yes (provided to all investors) Related to adviser: Yes
Auditor BDO USA, LLP SAN FRANCISCO, California, United States
Custodian FIRST-CITIZENS BANK & TRUST COMPANY MENLO PARK, California, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED SAN FRANCISCO, California, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

BDO USA, LLP
PCAOB 243

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-9067985851
Reported beneficial owners
35
Minimum commitment
$0
Form D file number
021-401615

Form ADV 2083464 · Mar 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

HEALTHQUEST AJAX III SPV, L.P.Venture Capital Fund · Last reported Mar 30, 2026$36.3MGross asset value

Form D fundraising filings

HealthQuest Ajax III SPV, L.P.

Fund administrator HC GLOBAL FUND SERVICES, LLC WALNUT CREEK, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Fund administrator MWY FUND SERVICES, LLC REDWOOD CITY, California, United States Investor statements: Yes (provided to all investors) Related to adviser: Yes
Auditor BDO USA, LLP SAN FRANCISCO, California, United States
Custodian FIRST-CITIZENS BANK & TRUST COMPANY MENLO PARK, California, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED SAN FRANCISCO, California, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

BDO USA, LLP
PCAOB 243

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-3930489843
Reported beneficial owners
32
Minimum commitment
$0
Form D file number
021-352510

Form ADV 2083464 · Mar 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

HEALTHQUEST AJAX III-A SPV, L.P.Venture Capital Fund · Last reported Mar 30, 2026$35.8MGross asset value

Form D fundraising filings

HealthQuest Ajax III-A SPV, L.P.

Fund administrator HC GLOBAL FUND SERVICES, LLC WALNUT CREEK, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Fund administrator MWY FUND SERVICES, LLC REDWOOD CITY, California, United States Investor statements: Yes (provided to all investors) Related to adviser: Yes
Auditor BDO USA, LLP SAN FRANCISCO, California, United States
Custodian FIRST-CITIZENS BANK & TRUST COMPANY MENLO PARK, California, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED SAN FRANCISCO, California, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

BDO USA, LLP
PCAOB 243

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-3854665435
Reported beneficial owners
27
Minimum commitment
$0
Form D file number
021-395453

Form ADV 2083464 · Mar 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: Mar 30, 2026. View historical filings

Reported services

Pooled investment vehicle management

Compensation

Percentage of assets · Performance-based

Principal office

805 LAS CIMAS PARKWAY, SUITE 245
AUSTIN, TX, 78746, United States

CRD 296583

Filing source

Form ADV 2083464 · Mar 30, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.