Sagard Healthcare closes $250m credit facility
Institutional investor Sagard Healthcare has closed a $250m (£196.6m) permanent credit facility with a syndicate of lenders.
The biopharmaceutical royalty and credit investor hopes to grow the facility as it continues to expand its portfolio.
Since it was founded in December 2019, Sagard Healthcare has invested more than $1bn of capital by acquiring royalties in a range of innovative drugs and providing biopharma companies with revolving credit facilities.
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“We believe that royalties are an attractive asset class for investors, providing uncorrelated returns, inflation protection, and stable income generation,” said David MacNaughtan, partner and head of Sagard Healthcare.
“Since inception just four years ago, the team has delivered on its investment objectives and has built a diversified portfolio of these long-dated, cash-generating, biopharmaceutical royalties.
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“The closing of our credit facility, combined with the first close of our next equity series, will allow us to continuously grow and diversify this asset base over time and deliver attractive absolute and relative returns to our investors.”
The firm has also completed almost $250m of new royalty and credit investments, including an increased investment in a credit facility Phathom Pharmaceuticals, and a one per cent royalty in Tyaso DPI net sales.
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