NEW YORK, NY and CHARLOTTE, NC – Global alternative asset manager The Carlyle Group (NASDAQ: CG) announced today that it has formed a joint venture with Bourne Partners, a healthcare-focused investor, operator and investment banking firm, to build a global pharmaceutical platform. This new venture, known as Phoenix Therapeutics, will be owned by Carlyle Partners VI, a $13 billion U.S. buyout fund, with a minority investment from Bourne Partners. Leveraging the financial resources and experience of Carlyle and Bourne, Phoenix Therapeutics will look to operate a pharmaceutical platform built through acquisitions. Phoenix Therapeutics will consider a range of acquisitions, including product and asset acquisitions, corporate acquisitions and carve-outs.
“Carlyle has a long-standing relationship with Bourne Partners,” said Stephen Wise, Managing Director and Head of Global Healthcare for The Carlyle Group. “Bourne Partners has deep relationships and significant transaction experience across the pharma industry. Formalizing the relationship with Bourne is a reflection of our belief that our venture can add significant value in the space, as well as our positive outlook for investing capital in the pharmaceutical industry going forward.”
“We have invested in funds managed by The Carlyle Group for many years and have developed close relationships across the firm,” said Bourne’s Founder and CEO, Banks Bourne. “Stephen Wise and his healthcare investment team have a record of building strong companies using Carlyle’s global relationships and focus on strategic value-add. With us they now have an additional resource with proven operational and transaction experience in the pharma industry.”
Bourne Partners has invested in, built and advised numerous specialty pharmaceutical companies over the last decade. As both advisors, investors and operators, Bourne has been involved with transactions ranging from $10 million to more than $3 billion, most recently contributing to the growth and successful exit of Covis Pharma Sarl, which Bourne co-founded with the original management team.
The Carlyle Group has a long history of success in the healthcare space. The Healthcare Group’s most recent US healthcare investments include Pharmaceutical Product Development, Inc. (PPD), the second largest contract research organization (CRO) in the world, and Ortho Clinical Diagnostics, a global provider of solutions for screening, diagnosing, monitoring and confirming diseases. Additionally, the team has also made several international healthcare investments, including Healthscope, the second largest private hospital operator in Australia, and its most recent investment in Rede D’Or Sao Luiz, the largest private hospital operator in Brazil.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $188 billion of assets under management across 126 funds and 160 fund of funds vehicles. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,700 people in 35 offices across six continents.
About Bourne Partners
Headquartered in Charlotte, N.C., Bourne Partners is a financial advisory, investment and consulting firm founded in 2001 that focuses solely on fulfilling the unique needs of established healthcare and pharmaceutical companies across the globe. Originally founded as a pharmaceutical investment firm, BP has evolved its service offerings in an effort to form enduring relationships with the healthcare and consumer health companies it chooses to serve. In addition, through its Bourne Partners Alternative Assets platform (BPAA), BP invests directly in healthcare and consumer health companies and invests opportunistically in other companies where it sees compelling long-term return characteristics. BPAA takes either majority positions or co-investment positions alongside other private equity firms with whom BPAA has longstanding relationships. BPAA seeks to add value to its partner company and fund investments by applying its network of strategic relationships (both private equity and industry relationships), advisory and consulting expertise, and operating experience to generate a positive outcome for management, employees, and investors.
For additional information, visit www.bourne-partners.com
The Carlyle Group
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