- Two of the world’s leading specialist healthcare investors with over $21 billion AUM are joining forces to create the largest dedicated healthcare investment manager globally
- Together, the group will have presence across North America, Europe and Asia-Pacific, regions that collectively account for 90% of the global healthcare R&D spend
- With 200+ professionals across 13 offices, the new firm will allow portfolio companies to scale internationally, and give investors access to the highest growth healthcare markets
London & Singapore – Global Healthcare Opportunities (“GHO”), a European specialist healthcare investor, and CBC Group (“CBC”), an Asian healthcare-focused asset manager, today announced they have signed a definitive agreement to create the world’s largest dedicated healthcare investment manager, with over USD 21 billion in AUM.
The combination brings together two of the world’s leading specialist healthcare investors, with a shared mission to deliver better, faster and more accessible healthcare globally. The new firm will have more than 200 investment and operating professionals across 13 offices in North America, Europe, and Asia-Pacific – regions which collectively account for around 90% of global healthcare R&D spend. This expansive footprint, network and global connectivity will enable it to capitalise on high-growth, innovation-led opportunities across the world’s largest healthcare markets.
GHO and CBC share a strong entrepreneurial, founder-driven culture underpinned by deep and complementary healthcare expertise as both investors and operators. The new firm will empower founders, management teams and portfolio companies to develop and internationalise cutting-edge healthcare solutions, spanning pharmaceuticals, medical devices, life science tools, diagnostics, healthcare infrastructure, and healthcare IT. The combined firm will be uniquely positioned to offer investors access to private equity, private credit and real estate assets focused on healthcare and life sciences.
GHO’s portfolio of North American and European healthcare companies will benefit from enhanced access to local insight and operating capability across Asia-Pacific, one of the most dynamic regions for healthcare innovation and a key growth frontier for many of the firm’s portfolio businesses. In parallel, CBC’s portfolio will be enhanced by the global market insight and execution support from an enlarged firm, enabling its Asian healthcare companies to scale with confidence, while remaining anchored in local execution.
Both firms have built deep, long-term relationships with global investors, underpinned by more than a decade of healthcare investing. Existing funds and portfolio companies at each firm will continue to be managed by their respective investment teams, with no changes to investment mandates, governance or ownership.
The new firm will be led by a proven leadership team with two of the Co-Founders of GHO and CBC. Mike Mortimer and Fu Wei will serve as Co-Chief Executives of the combined firm, and Andrea Ponti and Alan MacKay will assume board responsibilities for oversight of group finance and group governance, respectively. The senior leadership teams across both firms will remain actively involved in day-to-day management of the new firm.
The Board will be co-chaired by Lady Mireille Gillings, PhD, Vice Chair and Co-Founder of GHO, and by Fu Wei.
“The combination is about connecting leading healthcare companies and innovations with the world’s largest and most established markets and global pools of capital—by bringing together complementary strengths across Asia-Pacific, North America and Europe,” said Fu Wei, Chief Executive Officer and Founder of CBC Group. “Together, we are building the world’s largest dedicated healthcare investment firm to help accelerate patient access to affordable care, support innovation, and improve efficiency in addressing unmet medical needs by backing our portfolio companies and their management teams as they grow and scale impact.”
“We are reinforcing our position as dedicated healthcare specialists, expanding our global reach, deepening our value creation capabilities, and empowering our portfolio companies to compete and win in an increasingly dynamic global healthcare market,” said Mike Mortimer, Managing Partner and Co-Founder of GHO Capital. “By uniting our collective regional expertise, capabilities and shared commitment to identifying and growing leading healthcare companies, we are positioning ourselves to achieve strong returns, as well as further deliver on our commitment to improving global health outcomes.”
“This transaction represents a pivotal moment in the evolution of both firms. Our vision has always been to back high-growth, innovation-led healthcare opportunities to deliver better, faster and more accessible healthcare. In particular, AI is a fast-evolving force in healthcare and life sciences, and so AI applications in these fields will continue to be a focus moving forward,” said Lady Mireille Gillings, PhD, Vice Chair and Co-Founder of GHO Capital. “With the Asia-Pacific region accounting for 40% of global healthcare R&D spend, establishing a strong local presence is a natural and highly complementary extension of our strategy.”
The senior management team is further strengthened by Michael Keyoung, MD, PhD and Hans Kang at CBC Group who will continue to lead the credit and infrastructure strategies, and Stuart Quin and Edward de Nor, co-heads of GHO’s investment team.
The transaction is expected to close in early 2027, subject to customary closing conditions and regulatory approvals. GHO and CBC will continue to operate independently until the completion of the transaction, with a continued focus on delivering their existing fund mandates.
