Carlyle Group LP (CG), the world’s second-largest manager of alternative assets such as private equity, agreed to purchase German nursing-home operator Alloheim AG from Star Capital Partners Ltd. for an undisclosed fee.
The purchase will be funded through Carlyle Europe Partners III, a 5.3 billion-euro ($7 billion) pool raised in 2006, Carlyle said in an emailed statement today, without disclosing details of the transaction. Star Capital purchased Dusseldorf-based Alloheim for 125 million euros in March 2008, according to data compiled by Bloomberg.
“The Alloheim management team has a long and successful track record in the health-care-services industry and an outstanding record of quality care and support,” Gregor Boehm, managing director at Carlyle, said in the statement.
Star Capital, based in London, expanded the company from 13 to 49 homes with over 6,000 beds, providing a range of services including assisted living, ambulatory care and specialized-nursing services, according to the buyout firm’s website.
BNP Paribas SA (BNP) and Berenberg Bank acted as financial advisers for Carlyle, with Milbank, Tweed, Hadley & McCloy LLP and Latham & Watkins LLP were legal advisers, according to the statement. Carlyle had $180 billion of assets under management across 118 funds at the end of June.
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