Hannes Snellman Counsel to the Sellers of Life Sciences Partners in the Sale of LSP to EQT
17 November 2021
Hannes Snellman has advised the sellers of Life Sciences Partners (LSP), a leading European life sciences venture capital firm with approximately EUR 2.2 billion of assets under management, in connection with the sale of LSP to EQT AB. LSP, headquartered in Amsterdam, the Netherlands, is a venture capital firm that invests in innovative companies with strong scientific and clinical rationale across several life sciences strategies. LSP was founded in 1998, and today it is one of Europe’s largest and most experienced life sciences investment firms. With the sale, EQT AB acquires 100 per cent of the LSP management companies and 20 per cent of the right to carried interest in selected LSP funds. In addition, EQT AB will be entitled to 35 per cent of the carried interest of future funds. The upfront consideration amounts to EUR 450 million (on a cash and debt free basis), of which 25 per cent consists of cash and 75 per cent consists of publicly traded shares in EQT AB. In addition, a potential earn-out payment of EUR 25 million will be made if certain short-term fundraising targets are met.