DRI Capital has closed Drug Royalty III, a private equity fund that invests in health-care royalties, with $1.45 billion of capital commitments, confirmed Craig Shepherd, managing director and general counsel of DRI Capital in an e-mail.
The fund had a $1 billion fundraising target.
Investors in DRI Royalty III include the $10.2 billion New Mexico Educational Retirement Board, Santa Fe.
Atlantic-Pacific Capital was DRI's placement agent.
