Transatlantic Capital Bio-Sciences Partnership

The Partnership Objective Management InvestmentPerformance Management Record Current Partners Contact Information

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Executive Summary

The Partnership

Transatlantic Capital Bio-Sciences Partnership ("the Partnership") has and will continue to invest private equity capital in companies engaged in the bio-sciences generally, including the healthcare, medical and biotechnology industries. It focuses on early, expansion and development stage investment.

Transatlantic Capital intends to raise up to 20 million through offering participations under Fund D, currently in the process of funding a 10 year limited partnership-Partnership D.

Objective

The new partnership's objective is to achieve substantial overall rates of return through specialized investment in the bio-sciences sector. It is expected that the healthcare and medical technology fields will expand more rapidly than most other areas of the economy of Europe, partly through the impact of demographic change and partly through the development of private financial initiatives to achieve a more economic provision of medical services. These factors should lead to expansion in the range of opportunities available for investment.

Management

The management organization ("the Manager") was founded by Gordon Dean and Fred Offer in 1985 and is believed to be the only UK firm specializing in the management of private equity capital in the particular bio-sciences area. The Manager has an experienced management team, both in the UK and the U.S., and is supported by a scientific committee composed of leading experts in the medical field.

Investment Performance

Since the inception of the Transatlantic Capital business in 1985 the Manager and the scientific committee have reviewed in detail more than 2,000 opportunities resulting in investments in 26 companies of which 15 have been disposed and 7 have become listed, including, in particular, Alliance Imaging, Celsis International, Ethical Holdings, Oxford Molecular and PPL Therapeutics. At present the Manager is responsible for three partnerships. The first two (which are managed as a single entity) are near their termination date and have paid back to date almost three times the invested capital while the second is substantially fully invested and has repaid about half of its original capital. At the end of April 1996 the existing partnerships showed an overall internal rate of return to investors respectively of 21% and 18%. Investments with a cost of 2.4 million show a capital gain of approximately 6.3 million for the first two partnerships while in the third partnership investments with a cost of 5.1 million show a capital gain of approximately 5.6 million to date.

 

Management Record
(April 1996)
Partnership A&B(1985-12 years)
  000
Subscribed Capital 2506
Distibuted 7225
Value of residual portfolio (1 investment) 1462
8687
Returns to date (I.R.R.)
Limited partners 21%
Portfolio only 25%

 

Partnership C(1989-12 years)

 

  000
Subscribed Capital 5810
Distibuted 2870
Value of residual portfolio (1 investment) 7808
10678
Returns to date (I.R.R.)
Limited partners 18%
Portfolio only 24%

 

 

Partners in the existing partnerships(A,B&C) of the Transatlantic Capital Bio-Sciences Fund

 

Australia and New Zealand Banking Group

Berkshire County Council Superannuation Fund

Blue Circle Pension Fund

British Aerospace Pension Fund

British Coal Staff Superannuation Scheme

British Telecom Pension Scheme

Capel-Cure Myers Capital Management

Civil Aviation Authority Pension Fund

Church Commissioners for England

Commercial Union Assurance Company

Crossroads Management (UK) Limited

Johnson & Johnson Development Corporation

Greater Manchester Superannuation Fund

Mineworkers Pension Scheme

Post Office Staff Superannuation Scheme

Provident Mutual Life Assurance Association

Royal Automobile Club

Tameside Metropolitan Borough Council Superannuation Fund

 

Contact Us for More Information:

Bruce W. Barren