KKR to Invest in Life Sciences Firm Catalio Capital Management
October 17 2023 - 7:00AM
Business Wire
KKR buys minority stake in Catalio and invests
in its funds
Investment is additive to KKR’s existing health
care growth strategy
KKR, a leading global investment firm, today announced an
agreement to invest in Catalio Capital Management, LP, a
multi-strategy investment firm focused on breakthrough biomedical
technology and innovative health care companies. The addition of
new capital is expected to accelerate Catalio’s growth trajectory
and talent acquisition, as well as anchor its investment
strategies. Pursuant to the agreement, KKR is acquiring a minority
economic stake in Catalio and will invest in Catalio’s funds.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231017308280/en/
Henry Kravis, Co-Founder and Co-Executive Chairman of KKR, will
be named as the Chairman of a new Board of Advisors for Catalio
that will help guide the strategic growth of the business. Members
of the Catalio Board of Advisors will include, among others, Alex
Gorsky, the retired Chairman & CEO of Johnson & Johnson,
Andrew Liveris, the retired Chairman & CEO of Dow Chemical Co.,
Dina Powell McCormick, the Vice Chairman & President of Global
Client Services at BDT & MSD, and Tim J. O’Neill, a longtime
Partner and retired Co-Head of Goldman Sachs Asset Management.
“The life sciences sector represents a growing market
opportunity and has been an important area of focus for our health
care growth strategy, which will be further accelerated through our
partnership with Catalio. We are impressed not only by Catalio’s
entrepreneurial leadership team but also by its vast network of
leading scientists who serve as venture partners,” said Ali Satvat,
Partner, Co-Head of Americas Health Care and Global Head of Health
Care Strategic Growth at KKR. “We look forward to supporting
Catalio in taking the platform to the next level and unlocking the
next generation of biomedical technology.”
“We are grateful to KKR for its support, which we believe
affirms the success of Catalio’s strategy and recognizes the value
of our experienced life sciences investment team,” said George
Petrocheilos and R. Jacob Vogelstein, Co-Founders and Managing
Partners of Catalio. “KKR’s investment comes at an exciting time in
Catalio’s development. We believe that we will now be even better
positioned to empower the world’s most innovative clinical
scientists to turn next-generation biomedical discoveries into
valuable treatments and cures and create profitable, well-run
companies that advance the boundaries of care.”
Following the completion of the transaction, Mr. Petrocheilos
and Dr. Vogelstein will continue to own a controlling stake in
Catalio, and the day-to-day management and operation of the Catalio
business will remain the same.
KKR has a long track record of supporting health care companies
globally, having committed over $20 billion to the sector since
2004. In the life sciences sector specifically, KKR has already
committed well over $1 billion in capital from its health care
growth strategy, including investments in BridgeBio Pharma, Dawn
Bio and Treeline Biosciences, and will be funding this investment
from its balance sheet. KKR’s health care growth strategy is
focused on investing in high-growth health care-related companies
to which KKR can be a unique strategic partner in helping reach
scale.
Kirkland & Ellis LLP served as legal advisor to KKR. Paul,
Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor
to Catalio.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR’s
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com.
For additional information about Global Atlantic Financial Group,
please visit Global Atlantic Financial Group’s website at
www.globalatlantic.com.
About Catalio
Catalio Capital Management, LP, is a multi-strategy life
sciences investment firm focusing on breakthrough biomedical
technology companies developing the next generation of drugs,
devices, diagnostics, and data-driven insights. Catalio has
partnered with over 44 world-renowned scientists with extensive
academic and scientific achievements who have each also started
well-established companies based on their research. Catalio has
offices in New York and London. Learn more about Catalio Capital
Management by visiting www.cataliocapital.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231017308280/en/
Media: Liidia Liuksila 212-750-8300 media@kkr.com Charles
V. Zehren 212-843-8590 czehren@rubenstein.com
KKR (NYSE:KKR)
Historical Stock Chart
From Jun 2024 to Jul 2024
KKR (NYSE:KKR)
Historical Stock Chart
From Jul 2023 to Jul 2024