Blackstone’s Life Sciences Fund Largest Ever

Blackstone’s Life Sciences Fund Largest Ever

Blackstone has held an oversubscribed, hard cap, and final close of Blackstone Life Sciences V LP with $4.6 billion of capital. This is the largest life sciences private equity fund ever raised by any firm.

Blackstone Life Sciences pursues three investment strategies: strategic collaborations with established life science companies, late-stage product financings, and growth investments in emerging companies.

“Our mission to bring innovative medicines to patients by drawing on our domain expertise and scale capital has resonated with investors,” said Nicholas Galakatos, Ph.D., the global head of Blackstone Life Sciences. “With many more promising products in the life sciences industry’s pipeline than capital available to advance them, we look forward to continuing to bring new treatment options and innovations to the patients who need them.”

Over the past three months, the new fund has invested a combined $1 billion in Massachusetts-based Alnylam Pharmaceuticals which develops and commercializes RNA interference therapeutics (April 2020); Texas-based Reata Pharmaceuticals which is active with experimental oral antioxidative and anti-inflammatory drugs (June 2020); and Minnesota-based Medtronic which makes medical devices over a range of categories (June 2020).

Blackstone’s investment activities include private equity, real estate, public debt and equity, non-investment grade credit, real assets, and secondary funds. The firm also provides financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory, and fund placement services. Blackstone (NYSE: BX) is headquartered in New York City.

Private Equity Professional | July 14, 2020

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