Siding with royalty

After almost 15 years as a royalty buyer, Lionel Leventhal is joining Houlihan Lokey to help prospective royalty sellers. His two main goals are to help sellers negotiate better terms and to expand use of the financing instrument in underserved markets in Europe and Asia.

Leventhal is joining Houlihan's Illiquid Financial Asset (IFA) practice as head of royalty and revenue interest financing. Previously, he co-founded and was a general partner at Paul Capital Partners' Paul Capital Healthcare unit, where he worked on more than 25 structured royalty or revenue stream buyouts...