Healthcare Royalty Management, LLC

HealthCare Royalty Management, LLC provides investment advisory services to pooled, exempt investment vehicles and separately managed accounts that acquire royalties and use debt‑like structures to invest in commercial and near‑commercial healthcare assets. As adviser to the Funds, the firm’s services focus on sourcing, structuring, monitoring and disposition of those investments and its advice is delivered to the Funds’ general partners rather than to individual limited partners.

The firm’s investment approach centers on cash‑flowing healthcare products with multi‑year revenue profiles, reimbursement support and patent or manufacturing barriers; typical holding horizons and expected portfolio terms are generally five to ten years. HCRM combines in‑house due diligence with external industry experts and customized structuring techniques (including securitizations, over‑collateralization and put/call features) and notes having completed and structured more than 200 financing transactions.

HCRM reports approximately $3.78 billion in regulatory assets under management and is majority‑owned by KKR Harbor Holdings L.P.; the brochure also discloses an investment management role for Global Atlantic (an insurance company) and affiliations with KKR‑related broker‑dealer and capital‑markets entities. Those institutional relationships — including the adviser’s operational and capital links to an insurance company and KKR affiliates that include broker‑dealers and capital markets capabilities — are highlighted in the brochure and shape the firm’s governance, conflicts disclosures and allocation considerations relative to many peers.