Webster Equity Partners is reportedly seeking to raise $1 billion for a dedicated healthcare fund, according to a Buyouts report.

This would Webster’s fifth fund. The firm is targeting a first close in mid-December.

Buyouts notes that the new fund would solidify Webster’s transition to a sole focus on healthcare services.

Webster, formerly Webster Capital and based in Waltham, Mass., typically targets companies with revenue between $20 million and $200 million. Its identified sector expertise is as follows: behavioral health, outsourced services, home health, hospice, physician services, oncology, post-acute care, specialty pharmacy, staffing and lab services.