Healthcare Royalty Management, LLC (Stamford)


Healthcare Royalty Management, LLC is a large advisory firm based in Stamford. It manages $2.53 billion of regulatory assets for 13 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of California, Connecticut, and Massachusetts.

Healthcare Royalty Management provides portfolio management for pooled investment vehicles and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Healthcare Royalty Management: assets under management

The assets under management (AUM) of Healthcare Royalty Management, LLC is $2.53 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 70% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $2.53 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $194.4 million each.
Healthcare Royalty Management has custody of $1.28 billion in cash and securities for 13 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Healthcare Royalty Management, LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Healthcare Royalty Management serves?

The only and largest group of clients of Healthcare Royalty Management is pooled investment vehicles with 13 clients and $2.53 billion of assets under management. Among the 8 most similar advisory firms, Healthcare Royalty Management has the 4th highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $2.53 billion for 13 clients. None of the firm’s clients are foreign persons or businesses.

Healthcare Royalty Management also advises several private funds. Namely, eight private equity funds. The minimum investment commitment required of non-related persons is $10,000,000 for each fund.

Careers at Healthcare Royalty Management, LLC

The company employs 20 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Thomas Kreuz Conner Chief financial officer 1 Apr 1992 Other 3197436
Clarke Brannen Futch Founding managing director (and direct owner of the relying adviser) 1 Dec 2006 25% - 50% 1988666
Todd Christopher Davis Founding managing director (and direct owner of the relying adviser) 1 Dec 2006 25% - 50% 4196452
Llc Vanderbilt Capital Partners Manager 1 Dec 2006 50% - 75% 20-8836442
Paul Hadden Managing director 1 Apr 2007 Other 5329544
Llc Cowen Capital Partners Ii Member 1 May 2007 50% - 75% 38-3758520
Gregory Bailey Brown Managing director (and direct owner of the relying adviser) 1 Oct 2007 25% - 50% 2330935
Matthew Quinn Reber Managing director 1 Jan 2008 Other 3086404
Andrew Thomas Reardon Vice president - legal 1 Jul 2011 Other 2602507
Spencer Harris Schneider Chief compliance officer 1 Feb 2012 Other 6033197
Christopher Andrew White Chief operating officer 1 Dec 2014 Other 2963526
Warren H Cooper Chief medical officer 1 Jan 2017 Other 5422700

Indirect Owners

The SEC currently registers 2 indirect owners.

Name Entity Date acquired Ownership Employer ID
Inc. Cowen Group Parent 1 Dec 2006 75% - 100% 27-0423711
Inc. Cowen Parent 1 Dec 2006 75% - 100% 27-0423711

Based in Stamford

The principal office where Healthcare Royalty Management, LLC performs its advisory services is located at 300 Atlantic Street, Stamford, CT 06901, which is also the mailing address of the firm. An additional office of the firm is in San Francisco, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 203-388-9080 or by fax 646-562-1293. The normal business hours are 9:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at cowenroyalty.com.