Athyrium Capital Management and Neuberger Berman have closed the Athyrium Opportunities Fund II, which seeks to make structured capital investments in global, commercial-stage healthcare companies.
Athyrium Opportunities II was oversubscribed, closing at over USD1.2 billion. The Fund's global investor base is comprised of more than 40 institutions, including public and private pensions, endowments, foundations and sovereign wealth funds, a number of which also invested in the first Athyrium Opportunities Fund, which closed in May 2013. Athyrium Capital now advises funds with over USD1.7 billion of committed capital.
Athyrium Opportunities II seeks to make USD25-USD150 million investments in commercial-stage healthcare companies in North America, Europe, Asia and Australia. The Fund invests across all healthcare verticals including biopharma, medical devices, diagnostics, healthcare services and healthcare information technology. Financings by the Fund can be made in both public and private companies.
The Fund focuses on partnering with management teams who are looking for long-term capital to grow their businesses. The Fund has significant flexibility in structuring investments – possible transaction structures include loans, notes, convertible securities, preferred stock and other equity, royalties, royalty-backed debt or other structured instruments – allowing the implementation of creative financing solutions to meet capital needs. The Fund has made six investments to date, representing over 30% of committed capital.
The Fund's senior investment team is comprised of Jeff Ferrell, Founder of Athyrium Capital, Laurent Hermouet, Jeremy Lack, Richard Pines and Hondo Sen, Partners at Athyrium Capital and Samuel Porat, Managing Director at Neuberger Berman. Neuberger Berman's alternatives business, NB Alternatives, is a Sub Advisor to the Fund. NB Alternatives and Athyrium Capital formed a strategic relationship in 2009 to raise and deploy capital in structured investments across the healthcare sector.
"Athyrium Capital has a strong track record of providing large, flexible and long-term capital solutions at attractive costs of capital," says Jeff Ferrell (pictured). "Our deep experience and expertise in the healthcare sector allows us to quickly assess opportunities and to be value-add partners with our portfolio companies."
"Our aim is to team-up with high quality management teams to help fund their companies' growth," says Jeremy Lack. "Our custom-tailored financings are often used for acquisitions, growth acceleration and other forms of expansion."
"We are grateful for the ongoing support of our existing investors, and we welcome the addition of several new well-respected institutions to the Fund," says Samuel Porat.
