Apr 8 2010
Atlantic-Pacific Capital, a leading independent global placement agent, announced today the final closing of Drug Royalty II (the "Fund") with $701 million of equity capital commitments. The Fund, managed by DRI Capital, had an initial target of $500 million and received tremendous support from a broad group of institutional investors across the U.S., Canada, Europe, Australia and Asia. Atlantic-Pacific Capital acted as the exclusive global placement agent and advisor.
“We congratulate the DRI team on this successful global fundraise in light of the current challenging capital-raising environment”
"DRI is one of the leading firms with a long-running tenure in the royalty monetization space. Its differentiated business model proved to be a unique portfolio diversifier for Limited Partners," explained Alex Leykikh, Partner at Atlantic-Pacific Capital.
"While we managed our core business, Atlantic-Pacific Capital assisted us with every facet of the fundraising process, which they performed with thoughtfulness, professionalism and integrity," said Behzad Khosrowshahi, DRI Capital's President and CEO.
Based in Toronto, DRI Capital is a healthcare industry-focused investment management firm with over $2.0 billion under management that acquires royalties from pharmaceutical and biotechnology companies, research institutes, universities and inventors. The Fund's investment team has over 100 years of combined experience in the healthcare industry, including the identification, assessment and management of royalty streams. DRI Capital raised $240 million of equity capital for Drug Royalty I in 2006.
"We congratulate the DRI team on this successful global fundraise in light of the current challenging capital-raising environment," added James Weidner, Partner at Atlantic-Pacific Capital.
SOURCE Atlantic-Pacific Capital, Inc. (www.apcap.com)
Telehealth in home healthcare faces setbacks amid lack of federal reimbursements