The man who orchestrated the €12 billion buyout of Boots pharmacy chain, Dominic Murphy, has set up a private equity firm, according to a report published by the Financial Times.

The new firm, 8C Capital, aims to raise €1 billion to fund majority and minority investments in European healthcare and consumer companies.

Formal fundraising is expected to start in the next few weeks with Murphy, who quit his role at KKR to set up his own shop, expected to hire at least one partner in the coming months. When contacted by the Financial Times, Murphy declined to comment on the plans.