Athyrium Capital raises $2bn

The New York-based firm will target commercial-stage healthcare companies.

Athyrium Capital Management held a final close on its latest healthcare fund, Athyrium Opportunities Fund III, at $2.025 billion.

According to the New York-based firm’s press release, the fund will target equity investments of $20 million to $300 million in commercial-stage healthcare firms. Athyrium has already deployed 20 percent of the fund’s total commitments across seven investments.

Limited partners in Athyrium Opportunities Fund III include the University of Michigan and the Alaska Permanent Fund. NB Alternatives, the private equity arm of Neuberger Berman, is a sub-adviser to the fund.

Athyrium’s predecessor vehicle, Opportunities Fund II, closed at $1.23 billion in 2015.