Rothschild's bigger war chest

Rothschild aiming for bigger fourth life sciences fund, targeting EUR 200M

Edmond de Rothschild Investment Partners has determined that bigger is better and thus is out raising a €200 million ($268.5 million) fourth life sciences venture fund that will be larger than its €156 million ($242.9 million) BioDiscovery 3 fund that closed in 2008.

Gilles Nobecourt of EdRIP told BioCentury that it would have been better if BioDiscovery 3 had had a couple of more portfolio companies, with slightly more allocated per investment. The firm has made 15 investments from BioDiscovery 3 and Nobecourt said it might do one or two more.

The experience led EdRIP to aim higher for BioDiscovery 4, which has a hard cap of €250 million ($335.7 million). Nobecourt said the firm hopes for a first close in the spring, with a final close in 2H12.

He expects most of the LPs from the third fund will return. The investors included Amgen Inc. (NASDAQ: AMGN) and La Caisse des Depots et Consignations, as well as undisclosed health insurance companies, public pension funds and social institutions and institutional investors (see BioCentury, May 26, 2008).

La Compagnie Financiere Edmond de Rothschild Banque takes a

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