4 of 4 Exits Above 10x MOIC

Marc Cabrera built his reputation in healthcare, first as an investment banker and later as an independent sponsor. He stresses that healthcare is not 1 industry, but 50, each with its own dynamics. Pattern recognition gave him the confidence to walk away from most deals quickly. Behavioral health remains his favorite sector, a $100B market where demand has outpaced supply. His lens as an industry expert makes him selective, but when he says yes, the outcomes have been extraordinary.

Banking gave him access. Over three decades in advisory roles he dragged a big net through the market, reviewing hundreds of opportunities, meeting owners, and spotting situations that were too raw for institutional capital. Those conversations became his pipeline for direct investments. Cabrera turned transactional knowledge, industry network, and sharp instincts into a powerful deal sourcing advantage.

The track record proves it. 5 independent sponsor deals, 4 exits, all above 10x MOIC. The $50,000 therapeutic day school in 2009 produced $2.7m of EBITDA over 6 years. A 2013 Medicaid primary care practice generated an 11x return on an $11m equity check. In 2015 he acquired a therapeutic foster care carve out with $20m in revenue for only $1m, which he sold for $46-47m 6 years alter, equating to a 40x MOIC! Even as a side hustle, the results matched or exceeded top tier private equity funds.

Wealth creation happens in the cap table, not advising from the sidelines. In New York he saw institutions dominate. In Florida he saw entrepreneurs own businesses. He came to believe you make money at the acquisition, not at the sale. Buying cheap is the key. At 4x EBITDA you can earn back your capital in 4 years, where at 8x it might take a decade.