LSP and EQT join forces in healthcare investing



Amsterdam, The Netherlands, November 10, 2021 — LSP, one of the leading European life sciences investors, announces today that it will join forces with EQT AB (“EQT”), one of Europe’s largest private equity firms and among the top 10 worldwide. The acquisition of LSP by EQT is driven by the complementarity of investment expertise between the firms as well as significant growth opportunities and scale benefits. As part of EQT, LSP will continue its strategy and operations as it has done successfully over the past years.

 

With EQT’s broad investment platform and distribution power, LSP can sustain the fast growth it has experienced over the past two decades. LSP has raised over €3 billion and has supported the growth of more than 150 companies since inception. As part of EQT, with more than €70 billion in assets under management and 1,100 employees, of whom approximately 80 are dedicated to fundraising activities, LSP can continue to grow its business while leveraging EQT’s capabilities, including fundraising, investor relations and administrative support. This strong backing will allow LSP to devote more time to deal-making and helping its portfolio companies to thrive.

 

LSP will strengthen EQT’s position as one of the leading and most active private market investors in the healthcare sector. With its team of highly experienced professionals with deep scientific knowledge, LSP will complement EQT’s expertise of investing in mature healthcare companies and expand on EQT’s ability to assess early-stage scientific risk. The LSP network in the life sciences community has been developed over 33 years and is complementary to EQT’s global healthcare advisory network. For LSP, the combined network and enriched platform in healthcare will widen LSP’s footprint in the industry, augment the deal flow and increase exit capabilities.

 

In addition to the strategic advantages, LSP and EQT have a clear cultural fit and a shared vision on life science and healthcare innovation. At EQT, the LSP team will be able to continue its successful strategy of the past decades of investing in early-stage life sciences companies. Further, LSP will remain independent in its investment processes and decisions. All LSP partners and staff will be welcomed as part of EQT and are excited about the prospects of together developing a global life sciences and healthcare powerhouse to propel the industry forward at an unprecedented pace.

 

René Kuijten, Managing Partner at LSP, and incoming Partner and Head of EQT Life Sciences, said, ‘’Europe has many attractive life sciences companies. Together with EQT, one of the largest European private equity firms with more than €70 billion under management, LSP can select, develop, and finance these opportunities even better than before. Given the strong cultural fit and the complementarity between our organisations, we are convinced that joining forces is a win-win for our investors, our portfolio companies, our LSP colleagues, and the broader European life sciences ecosystem.”

 

Martijn Kleijwegt, Founder and Managing Partner at LSP, added, “The partnership with EQT not only accelerates LSP’s growth opportunities in an unprecedented way but also guarantees the long-term continuity of LSP’s active role in the life sciences industry in Europe and beyond. Having started the firm in 1998, I feel proud to have built the firm with all the partners and other colleagues, and I feel very good about where it has landed today.”

 

Per Franzén, Partner and Head of EQT Private Capital, said, “EQT has a long history of developing strong healthcare companies, and today we are one of the largest and most active private equity investors in the sector globally. Integrating LSP within EQT’s Private Capital platform will bring compelling cross-pollination opportunities for our other strategies and complement our sector expertise – making EQT an even better and more innovative healthcare investor.”

 

Michael Bauer, Partner and Co-Head of EQT’s Global Healthcare sector team, said, “We are truly excited about the opportunity to join forces with LSP and form EQT Life Sciences. The EQT and LSP teams have complementary skill sets, and the combination will allow us to support healthcare companies and their management teams in a unique way. The life science industry is going through a phase of unprecedented innovation and, through the partnership with LSP, EQT will be able to participate in this growth opportunity and open up doors for attractive new investments in the space.”  

 

Advisers
Moelis & Company acted as financial adviser to LSP, Allen & Overy as legal adviser and Loyens & Loeff as tax adviser.
 
 
About LSP
LSP is one of the largest European investment firms providing financing for life sciences and health care companies. LSP’s management has raised over €3.0 billion ($3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago, including signature deals such as argenx, Crucell and Neuravi. With offices in Amsterdam, Munich and Boston, LSP currently has the possibility to invest through several strategies, each having a distinctive investment scope and a dedicated team: LSP 7 invests in private early- to late-stage drug development and medical technology companies; the LSP Health Economics Fund (LSP HEF 2) focuses on private late-stage medical technology companies that can reduce the cost of healthcare; the LSP Dementia Fund invests in companies targeting neurodegenerative diseases; LSP Public targets public healthcare companies. LSP is an active contributor to the global life sciences industry and the European life science eco-system by assuming roles as initiators, founders and board members in various private and public bodies and organizations, for example being founder and board member of the Oncode Institute.
 
 
For more information please contact:
Dr. René Kuijten, Managing Partner of LSP
More info: lspvc.com
Follow LSP on LinkedIn
 
 
About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. Uniquely, EQT is the only large private markets firm in the world with investment strategies covering all phases of a business’ development, from start-up to maturity. EQT today has more than EUR 70 billion in assets under management across 27 active funds within two business segments – Private Capital and Real Assets. With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.
The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 24 countries across Europe, Asia-Pacific and the Americas and has more than 1,100 employees.
More info: eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

 

Disclaimer
This press release contains forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward- looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond EQT’s control, which may cause actual results to differ significantly from those expressed in any forward- looking statement. All forward-looking statements reflect EQT’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, EQT disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.
 
 
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LSP and EQT join forces in healthcare investing



Amsterdam, The Netherlands, November 10, 2021 — LSP, one of the leading European life sciences investors, announces today that it will join forces with EQT AB (“EQT”), one of Europe’s largest private equity firms and among the top 10 worldwide. The acquisition of LSP by EQT is driven by the complementarity of investment expertise between the firms as well as significant growth opportunities and scale benefits. As part of EQT, LSP will continue its strategy and operations as it has done successfully over the past years.

 

With EQT’s broad investment platform and distribution power, LSP can sustain the fast growth it has experienced over the past two decades. LSP has raised over €3 billion and has supported the growth of more than 150 companies since inception. As part of EQT, with more than €70 billion in assets under management and 1,100 employees, of whom approximately 80 are dedicated to fundraising activities, LSP can continue to grow its business while leveraging EQT’s capabilities, including fundraising, investor relations and administrative support. This strong backing will allow LSP to devote more time to deal-making and helping its portfolio companies to thrive.

 

LSP will strengthen EQT’s position as one of the leading and most active private market investors in the healthcare sector. With its team of highly experienced professionals with deep scientific knowledge, LSP will complement EQT’s expertise of investing in mature healthcare companies and expand on EQT’s ability to assess early-stage scientific risk. The LSP network in the life sciences community has been developed over 33 years and is complementary to EQT’s global healthcare advisory network. For LSP, the combined network and enriched platform in healthcare will widen LSP’s footprint in the industry, augment the deal flow and increase exit capabilities.

 

In addition to the strategic advantages, LSP and EQT have a clear cultural fit and a shared vision on life science and healthcare innovation. At EQT, the LSP team will be able to continue its successful strategy of the past decades of investing in early-stage life sciences companies. Further, LSP will remain independent in its investment processes and decisions. All LSP partners and staff will be welcomed as part of EQT and are excited about the prospects of together developing a global life sciences and healthcare powerhouse to propel the industry forward at an unprecedented pace.

 

René Kuijten, Managing Partner at LSP, and incoming Partner and Head of EQT Life Sciences, said, ‘’Europe has many attractive life sciences companies. Together with EQT, one of the largest European private equity firms with more than €70 billion under management, LSP can select, develop, and finance these opportunities even better than before. Given the strong cultural fit and the complementarity between our organisations, we are convinced that joining forces is a win-win for our investors, our portfolio companies, our LSP colleagues, and the broader European life sciences ecosystem.”

 

Martijn Kleijwegt, Founder and Managing Partner at LSP, added, “The partnership with EQT not only accelerates LSP’s growth opportunities in an unprecedented way but also guarantees the long-term continuity of LSP’s active role in the life sciences industry in Europe and beyond. Having started the firm in 1998, I feel proud to have built the firm with all the partners and other colleagues, and I feel very good about where it has landed today.”

 

Per Franzén, Partner and Head of EQT Private Capital, said, “EQT has a long history of developing strong healthcare companies, and today we are one of the largest and most active private equity investors in the sector globally. Integrating LSP within EQT’s Private Capital platform will bring compelling cross-pollination opportunities for our other strategies and complement our sector expertise – making EQT an even better and more innovative healthcare investor.”

 

Michael Bauer, Partner and Co-Head of EQT’s Global Healthcare sector team, said, “We are truly excited about the opportunity to join forces with LSP and form EQT Life Sciences. The EQT and LSP teams have complementary skill sets, and the combination will allow us to support healthcare companies and their management teams in a unique way. The life science industry is going through a phase of unprecedented innovation and, through the partnership with LSP, EQT will be able to participate in this growth opportunity and open up doors for attractive new investments in the space.”  

 

Advisers
Moelis & Company acted as financial adviser to LSP, Allen & Overy as legal adviser and Loyens & Loeff as tax adviser.
 
 
About LSP
LSP is one of the largest European investment firms providing financing for life sciences and health care companies. LSP’s management has raised over €3.0 billion ($3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago, including signature deals such as argenx, Crucell and Neuravi. With offices in Amsterdam, Munich and Boston, LSP currently has the possibility to invest through several strategies, each having a distinctive investment scope and a dedicated team: LSP 7 invests in private early- to late-stage drug development and medical technology companies; the LSP Health Economics Fund (LSP HEF 2) focuses on private late-stage medical technology companies that can reduce the cost of healthcare; the LSP Dementia Fund invests in companies targeting neurodegenerative diseases; LSP Public targets public healthcare companies. LSP is an active contributor to the global life sciences industry and the European life science eco-system by assuming roles as initiators, founders and board members in various private and public bodies and organizations, for example being founder and board member of the Oncode Institute.
 
 
For more information please contact:
Dr. René Kuijten, Managing Partner of LSP
More info: lspvc.com
Follow LSP on LinkedIn
 
 
About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. Uniquely, EQT is the only large private markets firm in the world with investment strategies covering all phases of a business’ development, from start-up to maturity. EQT today has more than EUR 70 billion in assets under management across 27 active funds within two business segments – Private Capital and Real Assets. With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.
The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 24 countries across Europe, Asia-Pacific and the Americas and has more than 1,100 employees.
More info: eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

 

Disclaimer
This press release contains forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward- looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond EQT’s control, which may cause actual results to differ significantly from those expressed in any forward- looking statement. All forward-looking statements reflect EQT’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, EQT disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.
 
 
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