Nice.
LetterOne, the investment vehicle owned by Russian tycoon Mikhail Fridman, has launched L1 Health in the US and appointed Diageo chairman Dr Franz Humer to the firm’s advisory board.
L1 Health will target up to $3bn (£2.1bn) of investments in the global healthcare sector over the next three years “with the goal of making sizeable equity investments in businesses that it can support and help grow for significant periods of time”, the group said.
LetterOne said it chose to base the new venture in the US so as to be closer to the markets it wishes to enter, and it plans to focus on “areas where scale, market consolidation and efficiency improvements can drive value”. LetterOne added that L1 Health is already looking at a variety of investment opportunities.