GHO Capital Partners said Nov. 20 that its second fund closed at its 975 million euro ($1.08 billion) hard cap. GHO Capital Fund II LP exceeded its target of 800 million euros. GHO Capital Partners LLP, of London, focuses on the healthcare subsectors, including pharma, medtech and outsourced services, through growth buyout investments. Rede Partners acted as placement agent while Debevoise & Plimpton LLP was legal counsel.
GHO Capital raises €975m in largest ever European healthcare fund
• €975m fundraise marks the largest ever specialist private equity fund dedicated to investing in European healthcare
• Fund II will invest in high growth healthcare subsectors, including outsourced services, pharma and medtech
• Oversubscribed fund is 50% larger than GHO’s 2015 maiden fund, demonstrating strong support from existing and new investors alike
London, UK – Global Healthcare Opportunities, or GHO Capital Partners LLP, the European specialist investor in healthcare, announces the successful final close of its second fund, GHO Capital Fund II LP (“the Fund” or “Fund II”), at its hard cap of €975 million. The fund represents the largest specialist private equity fund dedicated to European healthcare1.
Approximately 50% larger than the firm’s maiden fund raised in 2015, Fund II is significantly oversubscribed, exceeding a target of €800 million. Since it was founded in 2014, GHO has grown its total assets under management (AUM) to €2 billion, making it Europe’s largest healthcare-dedicated investment firm.
The Fund aims to develop the significant untapped market opportunity within specialist, high-growth healthcare subsectors, including pharma, medtech and outsourced services, through growth buyout investments. The target market is underpinned by strong structural drivers characterised by widespread demand for better, faster and more accessible healthcare.
With a pan-European focus, the Fund also has the capability to draw upon GHO’s extensive international network to capture and accelerate transatlantic growth opportunities. Within the last six months, GHO exited investments in Caprion Biosciences and Quotient Sciences, having successfully leveraged organic and inorganic growth opportunities to create transatlantic sector leaders.
GHO invests alongside strong management teams, bringing unrivalled sector expertise and a network of unparalleled industry reach, helping to drive operational improvements and source bolt-on opportunities globally.
The Partners at GHO Capital commented:
“Fund II is an important achievement for GHO Capital, presenting an exciting opportunity to help build the next generation of high-growth, innovative businesses, bringing better healthcare to more people.
“With our proven track-record and repeatable investment model, underpinned by a team with an unrivalled fusion of private equity, operational and healthcare competencies, we are recognized by stakeholders across the sector as the leading European investor in healthcare.
“The significant size of the Fund reflects the increasing maturity of the European healthcare sector and the level of investor interest and support for developing healthcare businesses that address global issues and trends.
“We would like to thank all our existing and new investors and we look forward to working with them in the years ahead.”
Fund II has already made two investments in Q1 2019, investing alongside management in Sterling Pharma Solutions, a leading provider of small molecule API development and manufacturing services to the global pharmaceutical industry, as well as in BioAgilytix, an independent global provider of large molecule bioanalytical testing solutions.
GHO Capital is advised by placement agent Rede Partners and law firm Debevoise & Plimpton LLP.