Hot Life Science Investor Mandate 2: PE Arm of Pension Fund Seeks Add-on Acquisitions

1 Aug

A private equity investment arm of a pension plan located in Canada, which has over $100 billion in total assets under management, is looking for new opportunities in the life science sector, and is currently targeting add-on acquisition targets for one of the firm’s portfolio companies. The pension’s equity investment size will vary depending on the size of the add-on target, however the firm is looking to acquire a strategic partner for their portfolio company as soon as possible.

The PE arm is currently looking for firms in the biotech R&D services sector. More specifically, they are seeking small, clinical-focused contract research organizations (CROs), and are most interested in firms that specialize in the areas of cardiology and endocrinology. The fund already has a good deal of exposure to clinical CRO’s that specialize in the oncology space, and thus would not be interested in investing in a company with exposure to that area.

The fund is currently only seeking firms for acquisition, and thus is only looking for firms that are interested in a buyout or recapitalization transaction. The pension is seeking firms that have around $2-5 million in EBITDA.

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