Management

Behzad Khosrowshahi

President and Chief Executive Officer

T: 416-324-5700 | E: bk@dricapital.com

Behzad Khosrowshahi is a leading healthcare investment professional with over 22 years of experience.

Mr. Khosrowshahi is Chief Executive Officer of DRI Capital, a role he has held since transforming the company following the going-private acquisition of Drug Royalty Corporation in 2002. Since that time, he has assembled a highly specialized team and overseen the evolution of DRI’s capital strategy, executing the transition to the fund structure and increasing the aggregate deployed capital for the DRI Capital Funds to more than $2 billion. He was responsible for attracting significant capital for DRI Capital’s first managed fund and led fundraising efforts for all other DRI Capital Funds. He also developed and led DRI Capital’s efforts to access debt through the asset-backed securities market, executing DRI Capital’s first securitization of royalties in 2005. Mr. Khosrowshahi leads the sourcing and identification functions at DRI Capital, where he has been responsible for the majority of the deals sourced since 2002. Prior to joining DRI Capital, he held increasingly senior positions at Future Shop Ltd., including heading the national chain’s merchandising, marketing, e-commerce, and supply chain functions as Executive Vice President. He was with Future Shop Ltd. from 1995 until it was sold to Best Buy Co., Inc. for $580 million in 2001. Mr. Khosrowshahi began his career at Deloitte and Touche LLP in 1991.

Chris Anastasopoulos

Chief Financial Officer

T: 416-324-5711  |  E: ca@dricapital.com

Chris Anastasopoulos is a strategic financial executive with 29 years of experience in the financial services industry. He has led high performance finance and operations teams at a global asset manager, a major Canadian pension plan and a leading Canadian chartered bank.

Mr. Anastasopoulos joined DRI Capital in 2015 and has ultimate responsibility for DRI’s Capital’s finance function. Before joining DRI, he was with the Ontario Municipal Employees Retirement System (“OMERS”), an Ontario based pension plan, for over ten years. During this time, he held progressively senior finance and operations roles, including Vice President, Finance, Operations and Business Development with OMERS Investment Management, which raised domestic capital for OMERS; Vice President, Finance for OMERS Strategic Investments, which managed a portfolio of private markets assets and raised international capital for OMERS; and Director, Corporate Financial Reporting for OMERS Corporate office. Prior to OMERS, Mr. Anastasopoulos held senior finance roles in TD Bank’s Subsidiaries and Affiliates Department and Chief Accountant’s Department after beginning his career at KPMG LLP, where he progressed to the position of Audit Manager.

Joel Herold

Chief Legal Officer

T: 416-324-5748  |  E: jherold@dricapital.com

Joel Herold has 22 years of corporate finance experience and has been integral to the completion of several mergers and acquisitions, and public and private financing transactions, as well as the deployment and management of sophisticated investment funds, domestically and abroad.

In addition to serving as DRI Capital’s Chief Legal Officer, Mr. Herold has contributed to capital markets activity and other financing transactions for DRI Capital and the DRI Capital Funds and has contributed to the identification, evaluation and execution of the DRI’s royalty acquisitions. Prior to joining DRI Capital in 2018, Mr. Herold was a partner in the law firm of Cravath, Swaine & Moore LLP and was with the firm for nearly 20 years, where he focused on corporate transactional work, intellectual property and general corporate advisory matters. While at Cravath, he completed work as outside counsel to DRI Capital and its affiliates, including representing DRI Capital in fund raisings, financing and acquisitions.

John McCulloch

Managing Director

T: 416-324-5740  |  E: johnm@dricapital.com

John McCulloch is a healthcare investor with a Ph.D. in immunology. Over the past 26 years, he has had operational, advisory and investment roles in the life sciences sector. He has served as an advisor and judge for several technology development programs including those offered by the Ontario Institute for Cancer Research, the McEwen Centre for Regenerative Medicine and the Ontario Centres of Excellence.

Dr. McCulloch rejoined DRI Capital in 2013 and is primarily responsible for qualitative diligence on opportunities under consideration. His work encompasses scientific and medical review, competitive assessment and regulatory affairs. Prior to rejoining DRI Capital, he was the founder and Managing Director of Burloch Group, where he helped connect innovators, developers and financiers to create solutions for unmet medical needs. From 2007 to 2012, he worked with emerging life sciences ventures across Ontario as a Senior Advisor at MaRS Discovery District, Canada’s largest innovation centre. He founded and managed the highly successful MaRS Future of Medicine event series that showcased leading biotech innovators. From 2007 to 2009, he was President and Chief Operating Officer of Aggregate Therapeutics Inc., a Canadian regenerative medicine company. During his tenure with DRI Capital’s predecessor company, Drug Royalty Corporation Inc., from 1994 to 2006, Dr. McCulloch assisted in the completion of over twenty transactions.

Babak Farahmand

Principal

T: 416-324-5719  |  E: bf@dricapital.com

Babak Farahmand is a finance professional with over 10 years of experience focused on the healthcare royalty space.

Mr. Farahmand joined DRI Capital in June 2010 and since 2018 has led its Operations team, which is responsible for modelling and risk analysis, investment and portfolio performance monitoring, asset valuations, foreign exchange and interest rate hedging, as well as contributing to fundraisings and debt issuances. He initially joined DRI as an analyst before serving as Director of Operations & Risk Management. Before joining DRI, Mr. Farahmand pursued an academic career at the University of Toronto and holds a dual degree in statistics and economics and a degree in mathematics.