HealthCare Royalty Partners has closed its latest health-care private equity fund, HealthCare Royalty Partners IV, with a total of $1.8 billion for the fund and affiliated entities, a news release said.
The firm closed its predecessor fund, the $1.5 billion HealthCare Royalty Partners III, in 2014.
The current global health-care private equity fund will acquire royalties and revenue interests generated from commercial biopharmaceutical products as well as provide debt using commercial-stage assets as collateral.
"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," said Clarke B. Futch, managing partner and investment committee chairman, in the news release.
Investors in the fund include $8.1 billion Missouri Local Government Employees Retirement System, Jefferson City.
Carlos M. Almodovar, managing director and head of investor relations, could not be immediately reached.
