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A&O advising Babylon as investment of up to USD200m by AlbaCore helps drive its continued aggressive growth

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Samengo-Turner William
William Samengo-Turner

Partner

London

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Bell-Walker Cathy
Cathy Bell-Walker

Partner

London

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Josh Little

Senior Associate

London

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Ben Davies

Senior Media Relations Manager

London

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08 October 2021

A cross-practice team from Allen & Overy is advising Babylon Holdings Limited (“Babylon”) on an investment of up to USD200 million by AlbaCore Capital Group (“AlbaCore”), in the form of ESG-linked notes with warrants. The proceeds of the investment will provide Babylon with additional capital to fuel its aggressive growth plan on the closing of its previously announced merger with Alkuri Global Acquisition Corp.

Babylon is a world-leading company re-engineering how people engage with their health at every step of the care continuum. Founded in 2013, it aims to make affordable healthcare available to all by shifting the focus from reactive sick care to preventative healthcare, resulting in better members’ health, improved member experience and reduced costs.

AlbaCore is one of Europe’s leading specialist credit investors focusing on public and private corporate credit markets. Founded in 2016, AlbaCore has invested over USD17bn for global pension funds, sovereign wealth funds, consultants, insurance companies, family offices and endowments.

Commenting, A&O Corporate M&A partner Will Samengo-Turner said: “This investment by AlbaCore is a further vote of confidence in Babylon’s rapid growth strategy. We are very proud to continue to support Babylon and other hyper-growth tech companies seeking the very best advice as their strategic projects become larger in scale and increasingly complex.”

The A&O team is led by Corporate partner Will Samengo-Turner, Banking partner Cathy Bell-Walker and senior associate Josh Little.

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