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Fund II will target investments between $20 million and $150 million with a focus on commercial stage or near-commercial stage biopharmaceutical, medical device and diagnostic companies and royalty-bearing products.

"We are very grateful for the support shown by our limited partners in helping us to significantly surpass our $650 million target size for Fund II. The strong response from investors is a testament to the quality and experience of our investment team and the continuing demand for healthcare royalty and credit strategies," said Andrew Rubinstein, Managing Partner.

"The closing of Fund II provides us with significant additional capital to meet the strategic and financial objectives of our investment counterparties around the world," added Jean-Pierre Naegeli, Managing Partner. "With our flexible, long-term financing solutions which include royalty, revenue interest, debt and equity instruments, we can continue to provide an attractive source of capital to healthcare companies, academic institutions and inventors."

Investors in Fund II include public and corporate pension plans, financial institutions, foundations and endowments located in the United States, Europe and the Middle East.