Blackstone has closed its Life Sciences VI fund at $6.3bn, marking the largest private fund dedicated to life sciences and underscoring strong investor appetite for the sector.

The fund reached its hard cap and was oversubscribed, coming in nearly 40% larger than its predecessor vehicle, as the firm continues to scale its healthcare and life sciences strategy.

“We are grateful to the BXLS VI investors for their strong support of our strategies and the firm’s enduring conviction in the life sciences,” said Nicholas Galakatos, Global Head of Blackstone Life Sciences.

Blackstone Life Sciences manages approximately $15bn in assets and focuses on investing across the full lifecycle of companies and products, from development through to commercialisation.

The platform has supported 34 regulatory approvals of medicines and medical devices, including high-profile therapies and technologies, highlighting its role as a strategic capital provider in the sector.

Blackstone reported an 86% approval success rate for Phase III assets, outperforming industry benchmarks and reinforcing its track record in late-stage life sciences investments.

The fund has already committed nearly $2bn in new investments over the past 12 months, reflecting continued deal activity across biopharma and medical technology.

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