The firm has invested capital from Apax IX, the $9 billion vehicle it is raising, to buy out Apax France and majority owner Nordic Capital.
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Arsenal Capital Partners raised the fund in a little over a year as a successor to its Fund III, which is currently booking a strong internal rate of return.
Founder and managing partner Thierry Baudon is stepping into an executive chairman role after 17 years, as Robert Knorr and Matthew Strassberg (pictured) take over as co-managing partners.
The fund will focus on growth investments in healthcare, agriculture and financial services.
Arboretum Ventures and Baird Capital co-led the Series A financing round for the Michigan-based tumour sequencing operation specialist.
The fund will target early stage Indian and South-East Asian companies focused on life sciences, last-mile healthcare delivery and healthcare IT.
Life Sciences Partners’ fifth vehicle easily surpassed its initial $170 million target and has already invested around a third of the proceeds in nine investments.
The life science and venture capital firm hit its target for the fund.
As the group nears a final close of its sixth fund, Private Healthcare Investor spoke to Cinven’s healthcare team principal, Matt Norton, to find out where the firm is currently hunting for new deals.
Enterome will use the new funds to bring its leading anti-IBS drug to clinical trial this year.