NEW YORK & LONDON & HONG KONG--(EON: Enhanced Online News)--Atlantic-Pacific Capital, the largest privately-owned global placement agent and advisory firm, announced the final closing of Drug Royalty III (the “Fund”) with $1.45 billion of capital commitments, significantly oversubscribed from its original target of $1.0 billion. The Fund, managed by DRI Capital (“DRI” or the “Firm”), received outstanding support from a global group of institutional investors to continue purchasing royalties from pharmaceutical and biotechnology companies, research institutions, universities, and inventors worldwide. Atlantic-Pacific Capital was the global placement agent for the Fund.
“We appreciated the opportunity to be working with DRI for a second consecutive fundraise and pleased that our limited partner clients continue to recognize the Firm’s differentiated business model”
"We appreciated the opportunity to be working with DRI for a second consecutive fundraise and pleased that our limited partner clients continue to recognize the Firm’s differentiated business model,” commented Alex Leykikh, Partner at Atlantic-Pacific Capital.
Behzad Khosrowshahi, DRI President and CEO, said, “We are pleased with the strong support that we received from investors. Atlantic-Pacific Capital did a great job once again efficiently managing the fundraising process, thereby allowing us the necessary bandwidth to manage our core business.”
About Atlantic-Pacific Capital (www.apcap.com)
Atlantic-Pacific Capital is the largest privately-owned global placement agent and advisory firm dedicated to raising capital for alternative investments. Since 1995, the firm has executed over 70 capital raising assignments aggregating over $50 billion for an extraordinary group of alternative asset managers. Typical projects include private equity, real estate and infrastructure fund placements, as well as secondary advisory mandates and direct private placements. With experienced professionals on the ground in New York, Greenwich, Chicago, San Francisco, London and Hong Kong, Atlantic-Pacific maintains a global network of trusted relationships with institutional and high net-worth investors.
About DRI Capital (www.dricapital.com)
DRI Capital, a pioneer and global leader in healthcare royalty investing, was established in 1992 as Drug Royalty Corporation to purchase royalty streams on approved and clinical stage pharmaceutical products. The raise of Drug Royalty III in 2013 follows the successful raises of Drug Royalty II in 2010 (U.S. $926 million of equity commitments including U.S. $701 million for Drug Royalty II and U.S. $225 million in equity for Drug Royalty II Co-Investment Fund), and Drug Royalty I in 2006 (U.S. $240 million in equity and U.S. $560 million in debt). Headquartered in Toronto, DRI is a fully integrated team of 30 investment professionals with deep life sciences industry expertise drawn from a variety of disciplines.