G Square Healthcare Private Equity LLP (“G Square”) announced today the closing of a €500m continuation fund vehicle in connection with the acquisition of three existing assets from its existing vehicles, G Square Capital I and G Square Capital II. The continuation fund will allow G Square to wind down G Square Capital I and provide significant liquidity to existing G Square Capital II investors, while providing new and existing investors participating in the continuation fund with the opportunity for additional returns on the next stage of the companies’ growth.
The continuation fund will be made up of three assets. Accomplish and Keys Group are the providers of specialist care services in the UK, and Denteam is the provider of general and complex dentistry services in the Netherlands.
Laurent Ganem, Founder and CEO of G Square, said “We believe this transaction has provided our Limited Partners with the optionality to make the best choice for their investment objectives. The development of this vehicle also provides the portfolio company management teams and G Square with the advantage of additional time and resources to further implement our growth and operational strategies to maximise value creation. We look forward to collaborating with our existing and new investors in this next stage of evolution for these companies.”
The continuation fund was led by Eurazeo and Schroders Capital with participation from other leading institutional investors including number of existing investors. Credit Suisse assisted with the private offering and Proskauer served as legal advisor to G Square.