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Laxman Pai, Opalesque Asia:

Oaktree Capital Management, the American global asset management firm specializing in alternative investment strategies, has raised more than $2.3 billion for its first private credit fund dedicated to life sciences companies.

The Fund, which is Oaktree's first dedicated life sciences fund, was oversubscribed said a press release from the investment manager with $172 billion in assets under management.

Oaktree's life sciences lending fund aims to generate attractive risk-adjusted returns by providing bespoke capital solutions to innovative companies across the life sciences sector globally, with a focus on high-growth subsectors, such as biopharma and medical devices.

"Life sciences is a critical and economically resilient industry that is supported by secular tailwinds, including increasing healthcare spending, record pace of technological innovation, and aging populations across the developed world," Armen Panossian, head of performing credit at Oaktree, said.

Armen added: "Additionally, while the sector has been traditionally funded largely by equity, thoughtful management teams and investors are increasingly realizing that structured debt and other alternative financing structures such as royalties can play an equally important role in enabling innovative life sciences companies to achieve their growth objectives. This creates a compelling opportunity for lenders like us with the expertise and scale to serve as a strategic par......................

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