NovaQuest Healthcare Investment Fund, a newly formed private equity investment group that was part of Quintiles, is raising $500 million in new capital.

The news was disclosed Wednesday in a filing with the Securities and Exchange Commission.

NovaQuest has already raised $177 million, the filing says. The fund raising is expected to last more than a year. The first funds were secured on Nov. 12, according to the filing.

NovaQuest invests in life science companies. It was part of Quintiles, the world’s largest contract research organization and life sciences services provider to the pharmaceutical and biotech industries.

((Read about Quintiles disclosing the fact NovaQuest is now a separate entity here.)

Quintiles is based in RTP and is privately held.

Read the filing here.

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