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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