Gide has advised Apollo alongside Paul, Weiss, Rifkind, Wharton & Garrison LLP on the conclusion of a partnership agreement with a view to acquiring a minority equity interest in European venture capital firm Sofinnova Partners, which specialises in life sciences and is based in Paris, London and Milan, and to committing to invest to Sofinnova's investment funds.
Pursuant to this agreement, Apollo will acquire a minority equity interest in Sofinnova and will commit to invest up to €1 billion of managed capital to Sofinnova's existing or future investment funds. This strategic partnership enables Sofinnova to significantly accelerate its growth. For Apollo, this investment will meaningfully increase its presence in life sciences and contribute to its growth ecosystem of partners that bring specialized knowledge and networks to its integrated platform.
The transaction is subject to customary closing conditions, including prior authorisation by the French Autorité des marches financiers, and is expected to close in the second half of 2022.
Gide's team was headed by partner Olivier Diaz, working with counsel Paul Guillemin and associate Corentin Charlès on corporate/M&A aspects; partner Guillaume Goffin and associates Rudolf Efremov and Antoine Nicolai on regulatory aspects; and partner Foulques de Rostolan with associate Maxime Houles on labour law aspects.
Sofinnova was advised by Dechert LLP.