The 2013-vintage fund was oversubscribed, having originally sought $350m.
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Christopher White will come over from Janney.
The fund is 50 percent larger than the firm’s previous vehicle.
The New York-based private equity firm has collected $150m for investments in pharmaceutical products and medical device companies that will employ strategies like royalty monetisation.
The Toronto-based investment firm beat its initial target of $500m for its second drug royalties fund.