OrbiMed raises $1.86bn for royalty and credit opps strategy
Healthcare investment firm OrbiMed has raised $1.86bn (£1.4bn) for its latest credit opportunities fund.
The OrbiMed Royalty and Credit Opportunities Fund V provides credit and royalty-based financing to healthcare companies across a number of sectors, including biopharmaceuticals, medical devices, diagnostics and tech-enabled services.
“Equity markets have been challenging in recent years for biotech and life sciences companies,” said OrbiMed general partner Matthew Rizzo. “Our flexible, non-dilutive capital solutions can help our portfolio companies to grow and thrive despite these volatile market conditions.”
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Over 90 per cent of the fund’s capital came from existing limited partners, including medical institutions, university endowments, and family offices.
OrbiMed has $17bn in assets under management overall. It has 145 professionals globally, including in the US, UK and China.
Thematic investing in private markets has been gaining attention recently. A report from BNP Paribas recently found that allocation to investors deploying thematic strategies has been increasing.
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