HealthCare Royalty Partners Raises $1.8 Billion
HealthCare Royalty Partners (“HCR” or the “Firm”), a global healthcare investment firm with $5.5 billion of cumulative capital commitments, today announced the closing on $1.83 billion for HealthCare Royalty Partners IV, L.P. (“Fund IV”) and affiliated entities. Since 2003, HCR’s senior professionals have invested over $3.0 billion in commercial or near-commercial stage biopharmaceutical products through the purchase of royalties, revenue interests and credit instruments. Fund IV, like HCR’s predecessor funds, will seek to continue to provide investors with returns that are non-correlated to the broader equity or credit markets.
“Increasing investor demand for non-correlated, yielding assets aligns well with HCR’s strategy, as evidenced by the capital committed to Fund IV. HCR’s regional sourcing strategy and deep bench of in-house scientists have generated strong results for HCR’s predecessor fund, which we believe will continue for Fund IV,” commented Clarke B. Futch, Managing Partner and Chairman of the Investment Committee at HCR. He continued, “the persistent capital needs of biopharmaceutical companies to develop and launch products, coupled with record innovation in the biopharmaceutical sector, has made the current environment quite attractive for HCR. We are grateful for the support of Fund IV’s investors and excited about the opportunity ahead.”
HCR welcomed many of its existing investors back into Fund IV as well as new investors representing several of the world’s leading pensions, sovereign wealth funds, financial institutions, foundations and family offices. The strong support from investors in the U.S., U.K., Europe, Australia, Middle East and Africa, demonstrates the growing acceptance of pharmaceutical royalties as a supplement to traditional fixed income / credit / absolute return portfolios.
Fund IV will continue HCR’s strategy of acquiring royalties and revenue interests generated from commercial biopharmaceutical products and providing debt financing collateralized primarily by commercial-stage assets. HCR’s typical investments range from $20 million to $200 million, with sourcing of such opportunities occurring from the Firm’s offices in Stamford (CT), San Francisco, Boston and London. Factors such as the aging of the global population, continued in-licensing of products by larger biopharmaceutical firms and the proliferation of smaller biopharmaceutical firms developing their own products represent secular tailwinds for HCR’s investment strategy going forward.
HCR is also pleased to announce the promotion of the following four individuals to Managing Director: Carlos Almodóvar, Head of Investor Relations; Dr. Shin Kang, Head of Research; Andrew Reardon, Chief Legal Officer; and Spencer Schneider, Chief Compliance Officer and Intellectual Property Counsel. “HCR’s new Managing Directors have meaningfully contributed to the Firm’s long-term success. Their promotions are well-deserved, and we look forward to their continued leadership as HCR invests Fund IV,” commented Mr. Futch.
About HealthCare Royalty Partners
HealthCare Royalty Partners (“HCR") is a private investment firm that purchases royalties and uses debt-like structures to invest in commercial or near-commercial stage biopharmaceutical assets. HCR has $5.5 billion in cumulative capital commitments with offices in Stamford (CT), San Francisco, Boston and London. For more information, visit www.healthcareroyalty.com.
HealthCare Royalty Partners
Carlos Almodóvar, 203-487-8300
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Moody’s Analytics Wins an Artificial Intelligence Award17.1.2020 16:00:00 EET | Press release
Moody’s Analytics, a global provider of financial intelligence, has won the Best Financial Services AI Solution category at the 2019 Artificial Intelligence Awards. We won this award for the QUIQspread™ solution, which helps institutions automate the spreading of financial statements. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200117005191/en/ Our extensive financial spreading expertise and data resources are at the heart of the QUIQspread tool, which uses machine learning to understand an institution’s financial data spreading policies. Increased accuracy, shorter processing times, and lower costs are achieved as the tool gets smarter with every spread. As a software-as-a-service platform, QUIQspread is scalable with business growth. It contains data on the financials of more than 22 million private firms, which immediately helps it to improve spreading accuracy. The QUIQspread tool easily integrates with clients’ inter
L&T Technology Services Reports a 10% Increase in Q3FY20 Net Profit17.1.2020 15:36:00 EET | Press release
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), India’s leading pure-play engineering services company, announced its results for the third quarter ended December 31, 2019. Highlights for Q3FY20 include: USD Revenue at $199 million; growth of 7% YoY Revenue at Rs 14,230 million; growth of 8% YoY EBIT margin at 16.8%; up 30bps YoY Net profit at Rs 2,041 million; growth of 10% YoY During the quarter, LTTS won 9 multi-million dollar deals across all major industry segments which includes 2 deals having TCV of USD30mn+ each. On a YoY basis, LTTS has increased its USD20mn+ clients by 2 and its USD10mn+ clients by 4. “Q3 results were consistent with our expectations. We had a strong performance in three segments - Transportation, Plant Engineering, and Medical Devices that are each growing in excess of 20% on YoY basis. Digital & leading-edge technologies - the growth driver for ER&D, contributed to 41% of Q3 revenues and grew by 29% YoY. We are seeing a new set of opportunities as
Schlumberger Announces Full-Year and Fourth-Quarter 2019 Results17.1.2020 14:50:00 EET | Press release
Schlumberger Limited (NYSE: SLB) today reported results for full-year 2019 and the fourth quarter of 2019. Full-Year Results (Stated in millions, except per share amounts) Twelve Months Ended Change Dec. 31, 2019 Dec. 31, 2018 Year-on-year Revenue $32,917 $32,815 0% Income (loss) before taxes - GAAP basis $(10,418 ) $2,624 n/m Pretax segment operating income* $3,978 $4,187 -5% Pretax segment operating margin* 12.1 % 12.8 % -68 bps Net income (loss) - GAAP basis $(10,137 ) $2,138 n/m Net income, excluding charges & credits* $2,054 $2,261 -9% Diluted EPS (loss per share) - GAAP basis $(7.32 ) $1.53 n/m Diluted EPS, excluding charges and credits* $1.47 $1.62 -9% Full-Year Revenue by Area North America $10,843 11,984 -10% Latin America 4,149 3,745 11% Europe/CIS/Africa 7,683 7,158 7% Middle East & Asia 10,017 9,543 5% Other 225 385 n/m $32,917 $32,815 0% North America revenue $10,843 $11,984 -10% International revenue $21,849 $20,446 7% North America revenue, excluding Cameron $8,525 $9,55
H.I.G. Capital Invests in Luxury Complex Near Venice17.1.2020 14:46:00 EET | Press release
H.I.G. Capital, LLC ("H.I.G."), a leading global private equity investment firm with over $35 billion of equity capital under management, announced today that one of its affiliates has recently completed an investment in Portopiccolo, a state of the art, self-contained luxury complex near Venice which includes 203 high-end residential apartments, a five-star hotel with a spa and 110 marina berths. Terms were not disclosed. H.I.G. continues to add to its sizeable holdings of real estate assets across Europe, consisting of both equity as well as debt investments, with a focus on its target market of value-add small and midcap opportunities. Riccardo Dallolio, Managing Director and Head of H.I.G. Realty Partners Europe, commented: “This marks our 10th real estate investment in Italy. The Italian real estate markets represent a key part of our European value-add strategy and we continue to actively look at opportunities in the small/midcap sector across the capital structure.” Gabriele Mag
Philip Morris International Recognized for Business Excellence in 4th Annual One Planet Awards17.1.2020 14:21:00 EET | Press release
Philip Morris International Inc. (PMI) (NYSE: PM) has been recognized among this year’s most awarded winners in the One Planet Awards program, an initiative acknowledging business and professional excellence in industries around the world. The company earned four awards for its achievements in delivering a smoke-free future from the more than 50 judges, who represent a wide spectrum of global industry experts. PMI received Gold awards in the Achievement of the Year in Diversity and Milestone of the Year categories in recognition of becoming the first multinational company to achieve global EQUAL-SALARY certification; PMI’s president of South & Southeast Asia, Stacey Kennedy, was awarded Gold in the Woman of the Year in Business & the Professions category; and the company earned a Grand Trophy for being among this year’s most-awarded winners. “We are passionate about our work at PMI to achieve a smoke-free future and make better alternatives to cigarettes available for men and women who
3M Shares NICE Medtech Innovation Briefing Suggesting V.A.C. VERAFLO™ Therapy Helps Improve Patient Outcomes17.1.2020 13:00:00 EET | Press release
3M today announced that the United Kingdom’s National Institute for Health and Care Excellence (NICE) has published a Medtech Innovation Briefing (MIB) regarding the use of V.A.C. VERAFLO™ Therapy to promote wound healing in chronic and acutely infected wounds. The system is part of 3M’s recently acquired KCI, an Acelity company, allowing 3M to focus on providing better care through patient-centered science, helping to improve patient outcomes by protecting and healing skin. Based on the evidence evaluated for the MIB, it showed that V.A.C. VERAFLO™ Therapy - negative pressure wound therapy (NPWT) coupled with automated instillation – was shown to be more effective than standard of care (SOC), including moist wound care and traditional NPWT, in treating acutely infected or chronic non-healing wounds. Additionally, the MIB referenced findings that the use of V.A.C. VERAFLO™ Therapy could reduce patients' length of hospital stay by 39 percent and reduces the number of debridements from 4
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom