G Square holds €350m final close for second fund

Kenny Wastell
08 February 2017

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Healthcare-focused private equity firm G Square Capital has held a final close for its second fund, G Square Capital II, on its тЌ350m hard-cap.

The figure is 67% higher than the €209m raised by its 2011-vintage predecessor.

The final close comes 11 months after the vehicle held its first close on €230m, €70m below its €300m target. According to a statement issued by the UK-based GP, the vehicle also has a provision for co-investment opportunities alongside LPs.

Fund advisory group Asante Capital and legal firm Proskauer Rose advised G Square on the fundraising.

Investors
G Square Capital II received commitments from new and existing investors from North America and Europe, including funds-of-funds, pension funds, corporate investors and others.

According to unquote" data, the most significant commitments obtained at the time of the vehicle's first close came from Unipension Invest, Morgan Stanley Alternative Investment Partners, Adveq Management, Adams Street Partners, Warburg Invest, Goodgrower, Stepstone and Pensionskasse Stadt Zurich.

Investments
The fund makes growth capital and buyout investments with equity tickets of €30-50m in healthcare companies. It has a pan-European remit and targets companies looking to implement acquisitive growth strategies. G Square Capital II will not invest in development stage biotechnology businesses.

The vehicle made its first investment in April 2016, acquiring a minority stake in Norwegian healthcare services provider Unicare.

For further details on G Square Capital II, visit the dedicated fund profile on unquote" data.

People
G Square Capital – Laurent Ganem (founder, CEO).