David MacNaughtan (Sagard Holdings)
Royalty Pharma gets more competition as a private equity firm launches $725M royalty-buying fund
Pablo’s got some peers.
Twenty-five years after Mexican billionaire Pablo Legorreta started buying up future royalties on approved drugs — and eight months after he turned that into a record-setting $2.2 billion IPO for Royalty Pharma— another firm is raising large sums to do the same thing. Sagard Holdings, the Canadian investment firm, raised $725 million for a new fund, known as Sagard Healthcare Royalty Partners, that will purchase royalties in drugs, diagnostics and medical products.
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