HealthCare Royalty Partners has raised $1.5 billion for its third fund. The pool’s LP base includes public and corporate pension funds, sovereign wealth funds, financial institutions, foundations and endowments. The fund’s focus is on healthcare assets. Credit Suisse Securities (USA) and Threadmark served as the placement agents in Australia and Europe, respectively.
STAMFORD, CT – October 20, 2014 – HealthCare Royalty Partners (“HC Royalty”), a global healthcare investment firm, today announced the closing on $1.5 billion for HealthCare Royalty Partners III, L.P. (“Fund III”) and affiliated entities. Fund III is focused on generating non-correlated absolute returns by investing in premier healthcare assets, a decade long strategy executed by the firm’s founders.
“The response from the global LP community has been robust. We substantially exceeded our capital target for Fund III, hit our hard cap, and secured significant commitments from new public and corporate pensions and sovereign wealth funds. We believe the response is a testament to our time tested investment strategy and successful track record of raising and deploying capital in this market over the past decade,” commented Clarke B. Futch, Founding Managing Director at HC Royalty.
HC Royalty secured commitments from a list of blue chip public and corporate pension funds, sovereign wealth funds, financial institutions, foundations, and endowments. Fund III’s limited partner base includes investors throughout the U.S., Canada, Europe, Australia and the Middle East.
Founding Managing Director Todd C. Davis, further commented, “With Fund III, we continue our mission of identifying and investing in healthcare assets that will generate value for our investors and our partners. We believe our broad and flexible platform will continue to serve as a long-term capital resource for companies, institutions and inventors around the globe.”
Since the $1 billion closing of HealthCare Royalty Partners II, L.P. and affiliated entities in December 2011, the firm has committed approximately $900 million across 23 investments in 23 distinct products. The healthcare royalty market has also continued to experience tremendous growth. Based on an internal analysis of deal activity, 2014 is outpacing 2013’s record breaking year with $3.3 billion in transaction volume announced through mid-October. HC Royalty announced the closing of its inaugural $500 million fund, HealthCare Royalty Partners, L.P. in July 2008.
Credit Suisse Securities (USA) LLC and Threadmark LLP acted as placement agents in Australia and Europe, respectively. HC Royalty was advised by Goodwin Procter LLP.
About HealthCare Royalty Partners
HealthCare Royalty Partners (“HC Royalty”) is a $3.0+ billion global healthcare investment firm. HC Royalty invests primarily in commercial stage healthcare assets that have significant clinical value, strong barriers to entry and that are marketed by some of the world’s largest pharmaceutical companies. Over the past decade, the senior investment team has completed more than 60 royalty investments valued in excess of $2.5 billion. For more information, visit www.healthcareroyalty.com.