Investment firm in Boulder transitions to new leadership

BOULDER — CRG, a Boulder-based health-care investment firm, has transitioned to new leadership.

Nathan Hukill has been named president and chairman, effective March 31. Former president and chairman Charles Tate has retired from day-to-day operations but remains on board as chairman emeritus.

“This leadership transition ensures the long-term success of CRG and enables the current management team to continue executing its differentiated strategy of providing growth capital to commercial-stage health-care companies and targeting compelling risk-adjusted returns for our limited partners,” Hukill said in a prepared statement. “On behalf of my partners and colleagues, I would like to thank Charles for his immense contributions to CRG and entrusting me with the opportunity to lead the firm forward.”

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Under the plan, which was finalized in December 2015, a partnership was established as a mechanism to share firm ownership, ensure strong governance of CRG and align interests between senior management and the firm’s business partners. The firm’s partners include Charles Tate, Nathan Hukill, Luke Düster, Michael Weinmann, Andrei Dorenbaum and David Carter.

“Nate and I first engaged in discussions about a succession plan in 2013 that would provide continued incentives for the next generation without the introduction of outside ownership,” Tate said. “Nate is uniquely qualified to assume control of CRG and is committed to the firm’s future success. Since 2009, Nate has overseen significant growth, including investing in 47 commercial-stage health-care companies across 21 therapeutic areas and raising nearly $3 billion in debt and equity capital from institutional investors.”

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CRG invests in health-care firms and plans to invest between $20 million and $300 million in companies that produce medical devices, biopharmaceuticals, medical tools and diagnostics, services and information technology. CRG provides growth capital in the form of long-term debt and equity to support companies that address large, unmet medical needs. CRG has offices in Boulder, New York and Houston.