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Laxman Pai, Opalesque Asia:

American alternative investment asset management company Blue Owl Capital has agreed to acquire Cowen Healthcare Investments (CHI), a New York-based life sciences investment manager, from Cowen Investment Management.

The deal is expected to close in the fourth quarter of 2023 and will move Cowen Healthcare Investments' roughly $1 billion in life science assets into Blue Owl's $150 billion in assets under management. Further transaction details are not being disclosed.

Cowen Healthcare Investments closed its latest fund, the $555.6 million Cowen Healthcare Investments IV, in May. Cowen Healthcare makes mid- to-late-stage equity investments in biopharmaceutical and healthcare companies.

As part of the transaction, the CHI team will become full-time Blue Owl employees, including senior leaders Kevin Raidy, Tim Anderson, and Rob Sine. Upon completion of the transaction, CHI's funds will be rebranded to Blue Owl Healthcare Opportunities.

"The rapid level of innovation within science and technology is driving a deep need for private capital solutions to support the life sciences sector's exponential growth," said Marc Lipschultz, Co-CEO of Blue Owl Capital. "Adding CHI to Blue Owl expands our ability to better meet the needs of our investors and users of our capital who are focused on the life sciences sector."

According to the release, Blue Owl's Life Science efforts are focused on credit, royalty, and growth equity......................

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