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NovaQuest Capital Management raises $459m for new fund

1 Nov 2013

biomed_lrgPrivate equity firm NovaQuest Capital Management has held a final close of $459m for its new fund, which will provide financing to biopharmaceutical businesses.

The firm said that Pharma Opportunities Fund III will earn product-based returns from late-stage and commercial products.

The LPs that have backed the fund include pension funds, family offices and a major university endowment.

NovaQuest CEO and managing partner Ron Wooten said, “We are extremely pleased to have a mix of high-quality, limited partners who have entrusted their capital to us, and who are supportive of our unusual, alternative offering that seeks to earn returns primarily from the important products of mid- and large-size biopharmaceutical companies.

“The global biopharmaceutical industry faces many challenges as it seeks to bring new and beneficial medicines and therapies to patients.

“We believe these challenges and the demand to improve healthcare globally should provide many opportunities for NovaQuest to make investments that both help patients and give our limited partners the chance to earn attractive returns on their investments.”

Pharma-focused funds currently in the market include Evolvence Capital’s second India-focused fund, which has raised at least $20m.

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