Blackstone sets record with $6.3 billion life sciences fund close
US investment firm Blackstone (NYSE: BX) has closed its sixth life sciences fund at $6.3 billion, marking the largest private vehicle ever raised for the sector. The oversubscribed fund is nearly 40% larger than its predecessor, underlining strong investor appetite for late-stage drug development financing.
The BXLS VI fund will back new therapeutics and technologies, with a focus on advancing assets through clinical development and commercialization. Blackstone said its portfolio shows an 86% approval rate at Phase III, well above typical industry levels.
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