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Pictet AA Successfully Raises $320 Million in Inaugural Healthcare Themed Private Equity Fund
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Pictet AA Successfully Raises $320 Million in Inaugural Healthcare Themed Private Equity Fund

The fund aims to leverage robust macroeconomic trends supporting health improvement in society, an area of increasing priority for governments, companies, and individuals.
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18 DEC, 2023

By Johanna Zidani from RankiaPro Europe

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In a major financial milestone, Pictet Alternative Advisors SA (Pictet AA), a wholly-owned subsidiary of the Swiss Pictet Group specializing in alternative investments, has announced the successful closure of its first thematic private equity fund in the healthcare sector. The fund exceeded expectations by securing $320 million, surpassing its initial target of $300 million. This achievement highlights the growing investor confidence in Pictet AA's strategic approach to thematic private equity.

A Strategic Approach to Thematic Private Equity

Launched in 2022, Pictet AA's foray into thematic private equity began with a technology-focused fund that closed at $350 million in September 2021. Building on this success, the newly closed healthcare sector fund is managed by Yann Mauron and David Braga Malta, both holding PhDs in bioinformatics and bioengineering, respectively, along with Chiara Brambillasca, who possesses a master's degree in medical biotechnology.

The fund aims to leverage robust macroeconomic trends supporting health improvement in society—an area of increasing priority for governments, companies, and individuals. Pictet AA's strategy involves high-conviction investments in five key segments: therapeutic, diagnostic, digital health, medical technology, and healthcare service providers. This results in a diversified portfolio that includes promising biotechnology companies. The fund managers have already initiated global investments in venture capital and buyout funds, focusing on the sector's top-performing companies. Notably, a significant portion of the capital will be allocated to co-investments across the five identified segments.

Pierre Stadler, Thematic Private Equity Director at Pictet AA, emphasized the growing importance and potential of the healthcare sector. He stated, "In recent years, the importance and potential of the healthcare sector have become evident, as seen in the rapid development of COVID vaccines or treatments for weight loss." Stadler highlighted Pictet AA's strong relationships with leading fund managers in the private equity sector, enabling the identification of compelling opportunities.

Yann Mauron and David Braga Malta, key managers of the healthcare sector fund, emphasized the attractive opportunities within companies addressing unmet medical needs. They also noted a heightened interest in mergers and acquisitions of strategic pharmaceutical companies, driven by record cash flows available to major groups and the impending expiration of patents over the next decade. This dynamic is expected to lead to acquisitions of privately held pioneering companies with better prospects.

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