OrbiMed gets $924 million in commitments for second health-care fund

By Toni Weeks

San Luis Obispo, Calif., Feb. 2 – OrbiMed said it closed on its second health-care royalty and credit opportunities fund, the OrbiMed Royalty Opportunities II, LP, with $924 million in commitments.

Investors in the fund include a variety of endowment, foundation, pension and other institutional investors, including a dozen leading medical research and health-care institutions. OrbiMed’s general partner has invested $24 million.

Similar to its predecessor, the new fund will acquire health-care royalty streams and provide tailored debt capital solutions to health-care companies and institutions worldwide.

The fund expects to commit $20 million to $150 million per investment, with larger amounts available in collaboration with other OrbiMed funds.

“OrbiMed is active across a broad range of worldwide health-care investing, including royalty and credit opportunities, public equity and private equity,” managing partner Samuel D. Isaly said in the press release. “Interest in this fund reflects the strong appeal of the OrbiMed strategy and our $14 billion global platform.”

The investment firm is based in New York.

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