Blackstone closes $6.3B fund for life sciences investing

Group 1 - Blackstone is the world's largest private equity firm with over $1 trillion in assets under management, increasingly focusing on biopharma investments [3][6] - Recent investments include $400 million for Teva Pharmaceutical's gut disease drug and $700 million for Merck & Co.'s cancer therapy, with Blackstone receiving future royalties [3][4] - Blackstone's BXLS platform has raised the largest life sciences private fund at $6.3 billion, which is nearly 40% larger than its previous fund of $4.6 billion [6][7] Group 2 - The BXLS platform has managed $15 billion in assets and has produced 34 approved innovative medicines and devices, with late-stage assets having an 86% approval rate, outperforming the industry average [6][7] - Blackstone's partnerships have included significant deals with companies like Johnson & Johnson and Novartis, indicating a strong presence in the biopharma sector [5][6]