GHO wins another pharma services auction, KKR and GIP buy CyrusOne

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The Wire

Nov. 15, 2021

GHO Capital buys Genesis Research, KKR and GIP acquire CyrusOne in $15bn take-private transaction

Happy Monday, hubsters!

Some personal news: Today is my last day at PE Hub, where most of you have probably gotten to know me for my partiality to digging into the latest deal, trend or drama making noise in the healthcare private equity universe. It’s been an amazing run and I’m grateful for all of the talented, supportive colleagues I’ve gotten the chance to learn from since secondaries scoopster Chris Witkowsky hired me as a young, enthusiastic reporter five years ago.

But the time has come for something new. Stay tuned, stay in touch, find me at San Francisco’s JPMorgan Healthcare Conference in January, or find me on LinkedIn!

Now, for some deal news.

GHO Capital, investing out of the largest healthcare-exclusive fund in Europe, has won what marks its third auction for a US-based pharma services asset this year. This firm has agreed to buy Genesis Research with a winning bid of $275 million, according to people familiar with the matter. Read my full report on PE Hub.

Also... KKR and Global Infrastructure Partners have agreed to acquire CyrusOne in a take-private transaction valuing the business at $15 billion. CyrusOne is a global REIT specializing in design, construction and operation of more than 50 high-performance data centers worldwide. Read PE Hub's brief on the deal.

Read the full wire commentary on PE Hub...

Also of note (may require subscriptions)

First: Goldman Sachs has joined the GP-led sell-side via a transaction that is understood to be the first time the investment bank has tapped the secondaries market in a manager-initiated process on private equity assets. Entities affiliated with the New York-headquartered bank sold a strip of exposure to 26 assets into a fund that Goldman’s asset management team will continue to manage, according to details shared with Secondaries Investor. Read it here.

Impact: Long-standing European private equity firm Apax Partners has started marketing its debut impact fund with a target of around $1 billion, according to two sources with knowledge of the fund. Apax declined to comment. The firm’s impact team is co-headed by Alykhan Nathoo in London and David Su in New York. Nathoo joined from Africa-focused firm Helios Investment Partners earlier this year, as reported by New Private Markets. Read more here.