DIF Capital Partners agrees to sell a portfolio of French PPPs


DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure III (“DIF III”) has agreed to sell a portfolio of eight operational PPPs in France to 3i European Operational Projects Fund.

The portfolio consists of significant shareholdings in three educational facility projects, one multimodal train station project, one fire station project (consisting of 12 fire stations), two prison projects (consisting of three prison facilities each) and one sewer project. The projects are operational under availability-based and long term contracts, with the exception of the sewer concession project, and are all backed by strong public counterparties. Six of the eight projects were developed and acquired by DIF III as greenfield projects, and have been successfully managed into stable operational projects during DIF’s ownership.

Andrew Freeman, Head of Exits, said: “We are pleased with the sale of the portfolio that was successfully optimized throughout the life of the assets and exited via a competitive portfolio sales process. The sale represents a further underpinning of DIF’s long standing track record in the French infrastructure market and is an attractive exit for DIF III.”

DIF was advised by KPMG (M&A, Tax & Accounting), Allen & Overy (Legal) and Currie & Brown (Technical) and Egis (Technical for the sewer project).

Closing of the transaction is subject to receipt of certain customary project-counterparty approvals and antitrust consent.

About DIF Capital Partners

DIF is an independent infrastructure fund manager, with €6.0 billion of assets under management across eight closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 135 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

Categories: News


GHO Capital acquires Ardena, a leading CDMO providing early stage drug development and manufacturing for small-to-mid sized biopharma

Mentha Capital

Global Healthcare Opportunities, or GHO Capital Partners LLP, the European specialist investor in healthcare, together with the existing management team has acquired Ardena, a specialist contract development and manufacturing organization (CDMO) focused on early phase drug development, from Mentha Capital.

Ardena is a multi-service CDMO, assisting small-to-mid sized biopharma with services spanning the full development life cycle. The Company offers a comprehensive ‘Make, Analyse, File’ model from drug substance and drug product manufacturing and bioanalytical services through to regulatory dossier development. Headquartered in Belgium, the company operates across several sites in the Netherlands, Sweden and Latvia.

With a strong reputation for quality and a flexible service delivery model, Ardena caters to a highly diversified base of over 300 customers throughout Europe, the US, Japan and Korea. A high science approach and broad drug development toolkit differentiate Ardena from peers as a comprehensive multi-service pan-European platform.

With extensive sectoral expertise and network in the global biopharma industry, the GHO team will support management in accelerating Ardena’s plan to enable customers to take a molecule from ‘target to clinic’ with a single outsourced drug development service provider.

GHO plans to further strengthen Ardena’s broad service proposition through organic and inorganic opportunities, adding to both the Company’s offering and international footprint.

The Company is well-positioned to benefit from sector trends as an increasing number of biopharma companies outsource large parts of their early stage drug development work to highly specialised CDMOs.

Harry Christiaens, CEO of Ardena, commented: “With their deep expertise in the Pharma sector, we are excited now to partner with GHO as we continue our international growth. Ardena and GHO are fully committed to the science-led approach that delivers valuable solutions for our biopharma customers globally.”

The Partners at GHO Capital, commented: “We are delighted to have the opportunity to work with the Ardena team. Operating within a highly fragmented market, Ardena is the market leading platform from which to build a fully integrated early stage CDMO, serving Biopharma clients globally.”

Gijs Botman, Partner of Mentha Capital, commented: “Ardena has grown from a Ghent-based business to become a leading early-stage, multi-service CDMO in Western Europe. After successfully completing and integrating four acquisitions, the company is now ready for a new growth phase. We had a fantastic journey with the Ardena team, and we are confident that GHO Capital is the right partner to support their ambitions going forward.”


Categories: News


EQT invests in Asia based Health Management International


  • EQT Mid Market Asia invests in Health Management International, a reputable private healthcare provider with regional presence in Singapore, Malaysia and Indonesia
  • EQT will support Health Management International in realizing its full potential while scaling the Company’s platform in the region, organically and by exploring potential future acquisition opportunities
  • Health Management International was delisted from the Singapore Exchange on 24 December 2019

The EQT Mid Market Asia III fund (“EQT Mid Market Asia” or “EQT”) today announced its investment in Health Management International Ltd (“HMI” or the “Company”).

Founded in 1998, HMI is a regional private healthcare provider with presence in Singapore, Malaysia and Indonesia. The Company is headquartered in Singapore and is led by an experienced management team and has a board with vast experience in developing and growing healthcare businesses in the region. The Company’s two tertiary hospitals in Malaysia, Mahkota Medical Centre and Regency Specialist Hospital, which are known for their clinical quality and breadth of specialties and subspecialties, attract medical tourists from all around Southeast Asia and serve approximately 100,000 international patients per year.

HMI has a strategy of investing in its facilities and service offerings and has further expanded its healthcare platform through investments in the first private one-stop ambulatory care center in Singapore, StarMed Specialist Centre, and a General Practice clinic chain in Singapore, OneCare Medical.

EQT will support HMI in realizing the full potential of its existing healthcare businesses, while investing further in capacity and capabilities. EQT plans to back the Company’s accelerated growth trajectory, both organically and by exploring potential acquisition opportunities. HMI will also be able to leverage on EQT’s deep healthcare sector expertise, global network and vast experience rolling out digitalization initiatives.

The investment in HMI is in line with EQT’s thematic approach. HMI participates in the development, planning and implementation of sustainable strategies and engages in numerous community initiatives which include medical screenings and treatments, promoting wellness and preventive healthcare.

Chin Wei Jia, Group CEO at HMI, commented: “We are excited to welcome EQT as our new partner for the next chapter of HMI’s development. EQT made a strong impression on us from the outset with their strategic approach and deep experience across the various healthcare ecosystems globally. Together, we will be able to accelerate HMI’s growth by focusing on providing quality healthcare to become one of the leading private healthcare providers in the region.”

Brian Chang, Partner at EQT Partners, Investment Advisor to EQT Mid-Market Asia, commented: “HMI is a well-established healthcare group with a high-quality, talented team and a solid track record in the region. EQT is excited to partner with HMI and support the next chapter of its growth journey. Going forward, the joint focus will be on scaling HMI’s operations in the region with its differentiated, passionate and hands-on approach while continuing to deliver high quality healthcare to its customers.”

Brian Chang, Partner at EQT Partners, Investment Advisor to EQT Mid Market Asia, +65 6595 1830
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on Twitter and LinkedIn

About Health Management International
HMI is a growing regional private healthcare provider with a presence in Singapore, Malaysia and Indonesia. HMI owns two tertiary hospitals in Malaysia, as well as a one-stop ambulatory care centre, healthcare training centre and a stake in a General Practice clinic chain in Singapore. HMI also has a network of representative offices in Indonesia, Malaysia and Singapore. HMI has more than 500,000 patients per annum, with over 200 practicing doctors and 1,800 staff.

More info: www.hmi.com.sg

Categories: News


EQT invests in SHL Medical, a world-leading provider of drug delivery solutions


  • EQT acquires minority stake in SHL Medical, a world-leading manufacturer of advanced drug delivery systems such as autoinjectors
  • SHL is a pioneer and technology frontrunner in the self-injection industry, promoting well-being for all by allowing patients to safely self-administer medications at home
  • EQT will support SHL and the management team in its next phase of growth and innovation by leveraging EQT’s healthcare expertise, local angles and digital capabilities

The EQT VIII Fund (“EQT”) today announced that it has entered into an agreement to acquire a minority stake in SHL Medical (“SHL” or “the Company”). SHL was founded in Asia in 1989 with the goal of combining world-class manufacturing in Taiwan with the strengths of international management practices. The Company launched its first autoinjector in 1996 and today, SHL is a world-leading provider of drug delivery solutions.

Headquartered in Switzerland, SHL serves as a partner to global pharmaceutical companies and biotech firms. The Company has a global presence with offices and operations in Europe, Asia and the US, employing approximately 5,000 people worldwide. SHL’s management has been executing a strategic agenda focused around growth, innovation, digitization as well as operational and manufacturing excellence. EQT intends to support SHL in its next development phase, building on the current direction taken by the Company’s management.

SHL’s products enable effective and precise delivery of highly complex biologics and biosimilar drugs to patients worldwide. They empower patients through safe self-administration of medication in the comfort of their homes. Therefore, the investment is in line with EQT’s thematic approach and mindset of making a positive impact in society with everything it does, guided by the United Nations Sustainable Development Goals (SDGs).

Ulrich Faessler, CEO of SHL, commented: “We are excited to have EQT as our new shareholder and look forward to working together in the next development phase of SHL. EQT’s entrepreneurial heritage and investment approach are a great cultural fit for SHL. Together, we will continue to build and grow the company in order to provide the best solutions for our customers.”

Andreas Aschenbrenner, Partner at EQT Partners and Investment Advisor to EQT VIII, added: “We are impressed by SHL’s entrepreneurial spirit and the management team’s achievements in growing the firm into an industry leader with deep innovation and manufacturing capabilities. EQT looks forward to working together with SHL’s management team in this attractive growth investment opportunity.”

The proposed transaction is subject to customary regulatory approvals.

With this transaction, EQT VIII is expected to be 70-75 percent invested.

Andreas Aschenbrenner, Partner at EQT Partners and Investment Advisor to EQT VIII, +49 89 25 54 99 0
EQT Press office, +46 8 506 55 334

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on Twitter and LinkedIn

About SHL Medical
SHL Medical designs, develops and manufactures advanced drug delivery devices, such as autoinjectors, pen injectors and advanced inhaler systems, and provides final assembly, labeling, and packaging services for pharma and biotech companies worldwide. Headquartered in Switzerland with locations in Taiwan, Sweden and the US, our experienced engineers and designers develop product enhancements as well as breakthrough drug delivery and patient care solutions for pharma and biotech clients globally. Significant investment in R&D has enhanced our broad pipeline of next-generation drug delivery systems that support ongoing innovations in drug development and digital healthcare. This includes advanced reusable and disposable injectors that can accommodate high volume and high viscosities and can be enhanced through digital implementations.

More info: www.shl.group
Follow SHL Medical on Twitter and LinkedIn

Categories: News


The Carlyle Group Completes Conversion to a Corporation


Washington, DC – The Carlyle Group (NASDAQ: CG) announced today that it has completed its previously announced  conversion to a corporation from a publicly traded partnership. Existing Carlyle shareholders will receive a final Schedule K-1 in late March 2020. Following today’s conversion, distributions will generally be dividends for U.S. tax purposes and shareholders will receive a Form 1099-DIV.

“We are pleased to have completed our conversion to a corporation,” said Carlyle Co-CEOs Kewsong Lee and Glenn Youngkin. We believe our structure and approach, which is simple, transparent in governance, and aligned with our investors, sets the stage for Carlyle to further drive sustainable value over the long-term for our shareholders.”

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $222 billion of assets under management as of September 30, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 33 offices across six continents.

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Categories: News