OrbiMed Advisors raises $1.2bn

The New York-based healthcare investment firm has raised capital for its third debt fund.

Fund name: OrbiMed Royalty & Credit Opportunities III
Amount raised: $1.2 billion
Stage of fundraising: Final close
Launch date: January 2019
Final close date: March 2021
Predecessor fund: OrbiMed Royalty Opportunities Fund II ($924 million)

OrbiMed Advisors has raised $1.2 billion for OrbiMed Royalty & Credit Opportunities III, according to a recent press release. Capital raised by the vehicle will be used to originate royalty financing for healthcare companies globally.

The fund received commitments from several institutional investors, including $100 million from New Mexico Educational Retirement Board, $75 million from San Francisco Employees’ Retirement System, $50 million from California State Teachers’ Retirement System and $35 million from Sacramento County Employees’ Retirement System (SCERS).