Barings Provides Senior Secured Financing to Soleus Capital to Expand Healthcare Credit and Royalty Platform
Barings, one of the world's leading investment managers, today announced that it has provided a senior secured
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Barings, one of the world’s leading investment managers, today announced that it has provided a senior secured financing facility to Soleus Capital (“Soleus”), an investment firm investing across healthcare with a focus on the innovative areas of life sciences, including biopharmaceuticals, medical devices, life science tools and diagnostics.
The financing, which is secured by a diversified portfolio of established royalties generated from commercial-stage pharmaceutical products, expands Soleus’ capacity to provide flexible, non-dilutive financing to healthcare companies. The facility also enables Barings to deploy additional capital through potential facility upsizing to support future Soleus transactions and lays the foundation for future potential collaborations.
The transaction is supported by growing demand for specialized financing solutions, particularly among emerging and middle-market life sciences companies, which often have limited access to non-dilutive capital. Financing backed by royalties and other healthcare assets can help companies commercialize approved therapies, advance clinical development programs and pursue strategic initiatives while preserving shareholder value.
“With deep healthcare expertise, strong industry relationships, and a disciplined investment approach, Soleus’ credit and royalty strategy provides flexible financing to an overlooked segment of the healthcare market, where demand continues to grow,” said Akan Oton, Managing Director, Barings. “We are pleased to provide a scalable source of capital for Soleus to expand its financing activities, while providing our investors with exposure to a diversified portfolio of seasoned pharmaceutical royalties.”
“Our strategic partnership with Barings advances the long-term growth of our credit and royalty platform and strengthens our ability to meet the evolving financing needs of healthcare companies,” said Ben Lund, Partner at Soleus Capital. “Companies across the healthcare sector are increasingly seeking flexible financing solutions that can support innovation and growth while minimizing equity dilution, and we believe our strategy is well positioned to address those needs.”
The investment reflects Barings Capital Solutions’ focus on asset-based investment opportunities with contractual cash flows and limited correlation to traditional corporate credit and equity markets.
About Barings
Barings is a $502 billion* global alternative asset manager that partners with institutional, insurance and wealth clients and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual with a minority investment from MS&AD, seeks to deliver excess returns by leveraging its global scale and capabilities across credit, real assets, capital solutions and emerging markets.
*As of June 30, 2026
About Soleus Capital
Soleus Capital is an investment firm based in Greenwich, Connecticut, focused on the innovative areas of life sciences, including biopharmaceuticals, medical technologies, life sciences tools and diagnostics. With approximately $3.5 billion in total assets under management as of June 30, 2026, Soleus Capital invests across the healthcare lifecycle from developmental-stage through commercial, and partners with life science companies across the capital structure through hedge fund, private equity and structured credit vehicles.
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