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About the company
BioPharma Credit PLC is a United Kingdom-based closed-ended investment company. The principal activity of the Company is to invest in interest-bearing debt assets with a contractual right to future cash flows derived from royalties or sales of approved life sciences products. The Company's investment objective is to generate long-term shareholder returns, predominantly in the form of sustainable income distributions from exposure to the life sciences industry. The Company seeks to achieve its investment objective predominantly through direct or indirect exposure to debt assets, which include royalty investments, senior secured debt, unsecured debt and credit linked notes. Its diversified portfolio is primarily secured by cash flows derived from sales of approved life sciences products. The Company holds a majority of its investments through its financing subsidiary, BPCR Limited Partnership. Its investment manager is Pharmakon Advisors L.P.
- Revenue in USD (TTM)135.73m
- Net income in USD108.45m
- Incorporated2016
- Employees11.00
- LocationBioPharma Credit PLC51 New North RoadEXETER EX4 4EPUnited KingdomGBR
- Phone+44 13 9247 7503
- Websitehttp://bpcruk.com/#
Profile
| Management group(s) | Pharmakon Advisors L.P. |
|---|---|
| AIC sector | Debt - Direct Lending |
| ISIN | GB00BDGKMY29 |
| Launch date | 27 Mar 2017 |
| Share type | Ordinary Share |
| Structure | Investment Trust |
| Base currency | USD |
Objective
To generate long-term shareholder returns, predominantly in the form of sustainable income distributions from exposure to the life sciences industry. The Company will seek to achieve its investment objective predominantly through direct or indirect exposure to Debt Assets, which include Royalty Investments, Senior Secured Debt, Unsecured Debt and Credit Linked Notes.
Managed by
| Pedro Gonzalez de Cosio, Pablo Legorreta, Martin Friedman |
|---|
Management & contract fees
Annual management fee is 1% of NAV. The performance fee is calculated as 10% of returns, subject to High Watermark and a 6% preferred return hurdle with 50% catch up.
Peer analysis
| Company | Revenue (TTM) | Net income (TTM) |
|---|---|---|
| Temple Bar Investment Trust PLC | 119.32m | 108.93m |
| TwentyFour Income Fund Ltd | 162.44m | 151.96m |
| JPMorgan Japanese Investment Trust PLC | 76.97m | 66.27m |
| Schiehallion Fund Ltd | 78.05m | 67.81m |
| Schroder AsiaPacific Fund plc | 42.93m | 27.48m |
| Syncona Ltd | -181.25m | -207.49m |
| Global Smaller Companies Trust PLC | -25.61m | -35.62m |
| ICG Enterprise Trust PLC | 89.62m | 57.16m |
| NB Private Equity Partners Ltd | 65.45m | 27.07m |
| Oakley Capital Investments Ltd | 71.63m | 59.58m |
| Merchants Trust plc | -24.60m | -37.95m |
| Biopharma Credit PLC | 135.73m | 108.45m |
| Patria Private Equity Trust PLC | 100.56m | 76.49m |
| The Scottish American Investment Co PLC | 144.79m | 131.79m |
| Murray Income Trust plc | 111.28m | 100.42m |
| Fidelity Special Values PLC | 12.79m | -3.90m |
Institutional shareholders
| Holder | Shares | % Held |
|---|---|---|
| Newton Investment Management Ltd.as of 31 Dec 2022 | 136.38m | 10.88% |
| Adage Capital Management LPas of 31 Dec 2022 | 130.85m | 10.44% |
| Sarasin & Partners LLPas of 31 Dec 2022 | 69.50m | 5.54% |
| FIL Investments Internationalas of 01 Mar 2024 | 33.19m | 2.65% |
| JPMorgan Chase Bank, NA (Investment Management)as of 01 Mar 2024 | 27.87m | 2.22% |
| Credit Suisse Asset Management (Schweiz) AGas of 01 Mar 2024 | 23.34m | 1.86% |
| Handelsbanken Wealth & Asset Management Ltd.as of 01 Mar 2024 | 22.41m | 1.79% |
| Evelyn Partners Investment Management LLPas of 01 Mar 2024 | 18.10m | 1.44% |
| Morgan Stanley Smith Barney LLC (Investment Management)as of 01 Mar 2024 | 16.63m | 1.33% |
| abrdn Investments Ltd.as of 01 Mar 2024 | 15.45m | 1.23% |
