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Alternative Market Briefing

Blackstone wraps up $1.6bn life sciences fund

Thursday, April 21, 2022

Laxman Pai, Opalesque Asia:

American alternative investment management giant Blackstone has wrapped up a record $1.6 billion inaugural royalty and structured credit-focused life sciences fund as the company bets on the continued growth of that sector.

According to a press release from the New York City-based global investment business, the Blackstone Life Sciences Yield (BXLS Yield) fund was oversubscribed and is the largest first-time fund of this nature. The investor capital is focused on post-approval, commercial-stage opportunities.

The new fund complements the flagship strategy of BXLS, which invests in late-stage product development. Together, the two pools of capital enable BXLS to support end-to-end life science innovation at scale and showcase Blackstone's deep conviction in this sector said the release.

Nicholas Galakatos, Ph.D., Global Head of Blackstone Life Sciences, said: "Blackstone Life Sciences aims to invest across the full lifecycle of innovative medicines and medical technologies. BXLS Yield comes at a critical time for many companies in need of structured credit and royalty opportunities as they seek to grow their business in challenging market conditions. We anticipate these two pools of capital will allow us to offer strategic financing solutions to our partners as we did through our $2 billion collaboration with Alnylam in April 2020."

"The diversity of capital, resources, and scientific expertise that Blackstone can offer is a clear di......................

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