Frontier will invest in a portfolio of companies focused on specialized pharmaceutical services to advanced therapeutics customers.

The platform plans to invest in differentiated scientific capabilities and proprietary technology platforms that manage critical bottlenecks in developing and manufacturing advanced therapeutics.

The companies brought in industry veteran and co-investor Thomas Eldered as Frontier's Executive Chairman.

As an initial investment, KKR and Flerie have invested in Munich-based Coriolis Pharma, which deals in formulation research and development, analytical services, and non-GMP manufacturing of inventive high-value biologics and cell and gene therapy products.

The investment is expected to drive Coriolis' expansion strategy in the fast-growing cell and gene therapy segment and boost its range of global services.

KKR's investment in Coriolis Pharma underlines its strong presence in the DACH region, where it has invested over €15 billion of long-term equity capital across more than 30 companies since 1999. 

Price Action: KKR shares closed lower by 1.71% at $60.25 on Friday.