Athyrium Capital Management Raises ~$2B With Neuberger For New Healthcare Fund

Dec 6 2017 | 6:49pm ET

Athyrium Capital Management and Neuberger Berman have raised approximately $2.025 billion in capital commitments for a new healthcare fund that will concentrate on investment opportunities in both public and private companies in the pharmaceuticals, medical products, diagnostics, healthcare services and healthcare information technology sectors.

The new fund, named Athyrium Opportunities Fund III, received support from a global investor base comprised of more than 45 institutions, including public and private pension funds, endowments, foundations and sovereign wealth funds, according to a statement. 

Athyrium Opportunities Fund III seeks to make investments of $20 million to $300 million in commercial-stage healthcare companies in North America, Europe, Asia and Australia. It has significant flexibility in structuring investments, and will pursue credit instruments, preferred and common equity, convertible securities and other hybrid instruments, royalties and royalty-backed debt and/or other structured instruments. 

Seven investments have been made to date, representing approximately 20% of committed capital. NB Alternatives Advisers LLC, the advisor to Neuberger Berman’s private equity business, is a sub-advisor to the fund. 

Founded in 2008, Athyrium Capital Management focuses on investment opportunities in the global healthcare sector. The company manages funds with committed capital in excess of $3.7 billion. Neuberger Berman, meanwhile, is one of the largest investment managers in the world, with more $280 billion in assets managed across equity, fixed income, quantitative and multi-asset class, private equity and hedge fund strategies. 

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