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NovaQuest closes third fund at USD459 million

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October 31
4:16 PM 2013

NovaQuest Capital Management had announced the closure of NovaQuest Pharma Opportunities Fund III LP. The fund is a USD459 million fund which focuses on providing structured finance solutions for biopharmaceutical firms. With this fund, NovaQuest's management team is seeking to continue its strategy of earning from products either in the last stage of development and commercial products that are helpful for firms it interacts with through customized financing agreements.

According to NovaQuest Managing Partner and Chief Investment Officer Ron Wooten, "We are extremely pleased to have a mix of high-quality, limited partners who have entrusted their capital to us, and who are supportive of our unusual, alternative offering that seeks to earn returns primarily from the important products of mid- and large-size biopharmaceutical companies. The global pharmaceutical industry faces many challenges as it seeks to bring new and beneficial medicines and therapies to patients. We believe these challenges and the demand to improve healthcare globally should provide many opportunities for NovaQuest to make investments that both help patients and give our limited partners the chance to earn attractive returns on their investments."

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