Partners Group Acquires Majority Stake in FairJourney Biologics

Partners Group Acquires Majority Stake in FairJourney Biologics

Adriana Morales
2 min read

Partners Group Acquires Majority Stake in FairJourney Biologics for €900 Million

Partners Group has recently acquired a majority stake in FairJourney Biologics, a biotech company known for its antibody treatments, valuing it at €900 million. This acquisition is a significant exit for GHO Capital, which initially invested €50 million in FairJourney in 2020 and is now set to see a nearly 10-fold return. FairJourney, with laboratories in Porto and Cambridge, has played a crucial role in the development of 14 antibody treatments currently in clinical trials for various diseases. The company's EBITDA is projected to rise to €44 million this year, up from €10 million in 2020, while revenues are expected to reach €79 million by 2024.

This step aligns with Partners Group’s active investments in the healthcare sector, following their €1.6 billion deal for Pharmathen in 2021.

Key Takeaways

  • Partners Group acquires majority stake in FairJourney Biologics for €900 million.
  • GHO Capital sees nearly 10-fold return on €50 million investment in FairJourney.
  • Private equity firms are increasingly investing in pharmaceutical services.
  • FairJourney's EBITDA is expected to reach €44 million in 2024, up from €10 million in 2020.
  • Partners Group is actively involved in the healthcare sector, having previously acquired Pharmathen for €1.6 billion.


The acquisition of FairJourney Biologics by Partners Group underscores the growing private equity interest in pharmaceutical services driven by strategic outsourcing needs. This move not only benefits GHO Capital with a substantial return but also positions FairJourney for accelerated growth, leveraging its clinical trial pipeline and partnerships with industry giants. In the short-term, FairJourney's EBITDA and revenues are poised for significant expansion, while in the long-term, the deal enhances Partners Group's portfolio in life sciences, potentially influencing future investments and sector dynamics.

Did You Know?

  • Partners Group:
    • Partners Group is a global private markets investment manager, serving over 900 institutional investors. It specializes in private equity, private real estate, private infrastructure, and private debt investments. The firm's strategy often involves acquiring significant stakes in companies across various sectors, including healthcare, to drive growth and value creation.
  • EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization):
    • EBITDA is a financial metric that provides a clearer picture of a company's operating performance by excluding certain expenses that can obscure the underlying profitability. It is widely used in valuation and investment analysis, particularly in comparing the financial performance of companies within the same industry.
  • Private Equity Interest in Pharmaceutical Services:
    • Private equity firms have shown increasing interest in pharmaceutical services due to the sector's growth potential and stable cash flows. Investments in this area often involve acquiring stakes in companies that provide specialized services, such as drug development, manufacturing, and distribution, which are critical for the pharmaceutical industry's functioning.

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