Houlihan Lokey, Inc. announced that Lionel Leventhal has joined the firm's Illiquid Financial Asset (IFA) practice as a Managing Director and Head of Royalty and Revenue Interest Financing. He will focus primarily on royalty monetization's and revenue interest financings in the pharmaceutical, biotechnology, medical device, and diagnostics subsectors with a broader mandate to expand coverage into similarly structured illiquid financial assets in other industries. He is based in New York.

Prior to joining the company, Mr. Leventhal spent 14 years at Paul Capital, where he was a General Partner and co-founder of Paul Capital Healthcare, the first fund platform focused on royalty/revenue interest financing and other structured debt financings for healthcare companies across a range of subsectors. Previously, he held roles at Golub Capital and Bain & Co.