Cowen Royalty closes $1B fund

Cowen Healthcare Royalty Partners closed its second fund, Cowen Healthcare Royalty Partners II, at $1 billion. The firm said the fund, which exceeded its initial target by more than 75%, is the largest private equity fund dedicated to healthcare royalty investments ever raised. Cowen Royalty said the two main categories for the fund are commercial-stage biopharmaceutical and medical device companies, and universities and inventors hoping to monetize product interests. The fund will target investments of $20-$100 million in the U.S., Europe and Asia. ...