Cowen Royalty seeks to structure investments that create long-term value for the Firm’s investors and its three distinct groups of counterparties: (i) healthcare product companies; (ii) academic, research and non-profit institutions; and (iii) inventors.
The Firm was founded in January 2007 and closed its inaugural fund, Cowen Healthcare Royalty Partners, L.P. in July 2008. Cowen Royalty’s industry-leading team is led by co-founders Gregory B. Brown, M.D., Todd C. Davis and Clarke B. Futch, who collectively have sourced and/or managed more than $1 billion in healthcare royalty investments. The Cowen Royalty team has over 100 years of healthcare and financial experience specifically in principal investing, structured finance, healthcare industry senior management, Wall Street research, healthcare industry consulting, and scientific and clinical advisory work. This unique blend of experience coupled with the co-founders’ proven track record distinguishes Cowen Royalty from other firms in this industry.
Cowen Royalty’s limited partner base consists of a world-class list of investors, including public and corporate pension funds, financial institutions, insurance companies, funds-of-funds and university endowments. Selected investors include affiliates of OMERS Private Equity, Crestline Management, Nordea, Strategic Investment Group, New York Life Insurance Company, The Travelers Companies and Cowen Group.