KKR, a number one international funding agency, as we speak introduced the ultimate closing of KKR Well being Care Strategic Progress Fund II (“HCSG II” or the “Fund”), a $4.0 billion fund devoted to well being care progress fairness funding alternatives primarily in North America and Europe.
HCSG II is the successor fund to KKR Well being Care Strategic Progress Fund (“HCSG I”), KKR’s first devoted well being care progress fairness automobile, which held its ultimate closing in November 2017 on $1.45 billion in capital commitments. Much like its predecessor fund, HCSG II will goal to generate sturdy returns for purchasers by investing in revolutionary well being care corporations with confirmed services which can be in search of a associate to commercialize and scale. With a diversified portfolio method, HCSG II will deal with the biopharmaceutical, medical gadget, well being care companies, life science instruments / diagnostics, and well being care info know-how sub-sectors.
“Now greater than ever there’s a important demand each for revolutionary services within the well being care sector and for an skilled and versatile capital associate to put money into their progress and additional their attain,” stated Ali Satvat, Companion, International Head of Well being Care Strategic Progress, and Co-Head of Americas Well being Care Personal Fairness at KKR. “Constructing on the sturdy momentum and tangible outcomes that we’ve got achieved to this point by way of HCSG I, we sit up for persevering with to associate with best-in-class well being care companies to carry these much-needed services to marketplace for the advantage of sufferers globally whereas delivering sturdy returns for our traders.”
HCSG II obtained sturdy help from a various group of each new and current traders globally, together with public pension plans, sovereign wealth funds, insurance coverage corporations, monetary establishments, endowments, personal wealth and fintech platforms, household places of work, and high-net-worth particular person traders. KKR will likely be investing roughly $500 million of capital within the Fund alongside these traders by way of the Agency’s steadiness sheet, associates, and worker commitments.
“We’re happy to have the backing of this various group of traders who share our ardour for the alternatives that we see on this rising market,” stated Alisa Amarosa Wooden, Companion and Head of the Personal Markets Methods Group at KKR. “At practically thrice the dimensions of its predecessor, HCSG II not solely speaks to the enticing funding alternatives that we’re seeing but additionally demonstrates the power of our well being care funding staff, our Well being Care Strategic Progress technique, and our sturdy funding efficiency to this point.”
KKR has established a robust observe report of supporting corporations throughout the well being care ecosystem, having invested roughly $18 billion throughout the sector since 2004. KKR’s well being care staff has grown to almost 35 devoted funding professionals globally. Along with offering capital, the Agency helps corporations develop by way of its trade expertise and relationships, operational experience, international infrastructure, and assets from greater than 100 portfolio corporations worldwide. In 2021, KKR executed plenty of new investments as a part of its Well being Care Strategic Progress initiatives, together with in Argenta, Nordic Bioscience, Sapphiros, Geode Well being, and Cordis.
