Abingworth, a transatlantic life sciences investment firm with over $2 billion in assets under management, has been acquired to bolster Carlyle’s leading global healthcare franchise. This transaction will enable Carlyle to operate across the full risk-return spectrum of life sciences and healthcare investing, from venture capital to buyouts, and to continue Carlyle’s long-standing efforts to be an important part of the solution in healthcare.
Travers Smith has a strong recent track record in advising asset management businesses on their sale having also recently advised Brewin Dolphin on its recommended takeover by RBC Wealth and acted for the partners of Benson Elliot on the sale of the Benson Elliot business to Pinebridge Investments.
Tom LaFonde, Chris Isaacs, Ajay Pathak and Ravi Chopra of Goodwin Proctor advised Abingworth on US law and funds matters.
Carlyle’s acquisition of Abingworth is subject to customary closing conditions and is expected to close in 2022. The deal value is confidential.
Sam Kay said: "After working with the Abingworth team for many years, it is a privilege to support them on this transformational and strategic landmark event for their business."
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $301 billion of assets under management as of December 31, 2021, 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. Carlyle employs nearly 1,850 people in 26 offices across five continents.
Abingworth is a leading transatlantic life sciences investment firm with over $2 billion under management. Abingworth helps transform cutting-edge science into novel medicines by providing capital and expertise to top calibre management teams building world-class companies. Since 1973, Abingworth has invested in over 179 life science companies, leading to 46 M&As and 73 IPOs. Abingworth's therapeutic focused investments fall into three categories: seed and early-stage, development stage, and clinical co-development. Abingworth supports its portfolio companies with a team of experienced professionals at offices in London, Menlo Park (California), and Boston.