Blackstone’s $4.6 Billion Life Sciences Fund Formation

Cleary Gottlieb Steen & Hamilton represented Blackstone in the transaction.

Blackstone (NYSE: BX) executed the formation of Blackstone Life Sciences V (“BXLS V”), the inaugural Blackstone fund in Life Sciences. BXLS V was oversubscribed and closed at its hard cap with $4.6 billion of total capital commitments —the largest life sciences private fund raised to date.

Blackstone Life Sciences is a private, global investment platform with capabilities to invest across the life-cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, Blackstone Life Sciences helps bring to market promising new medicines that improve patients’ lives.

The Cleary investment fund team representing Blackstone on the transaction included partners Michael Gerstenzang (Picture) and Maurice Gindi, associates Sophia Yuan, Emily Alfano, Mallory Suede Ross, Amy Shi, Noah Danielson, and Max Noreng, and law clerks Clay Willett, Camilla Poggiani, and Charles Nwaogu, with advice from partner Adrian Leipsic. The Cleary tax team included partner Meyer Fedida and associates Daniel Hanna, Alex Cadmus, and Michael Eis. Partner Michael Albano and associates Alexander Kurtz and Ashley Powell advised on ERISA matters, and partner Colin Lloyd and associates Clayton Simmons and Resh Patel advised on CFTC matters. Associates Ferdisha Snagg and Hannah Esslemont advised on certain European regulatory issues. Senior corporate staff attorneys Jodi Erickson and Christine Shin, and corporate staff attorneys Vilma Preta and Jingjing Cui provided subscription document review assistance.

Involved fees earner: Michael Albano – Cleary Gottlieb Steen & Hamilton; Emily Alfano – Cleary Gottlieb Steen & Hamilton; Alexander Cadmus – Cleary Gottlieb Steen & Hamilton; Jingjing Cui – Cleary Gottlieb Steen & Hamilton; Noah Danielson – Cleary Gottlieb Steen & Hamilton; Michael Eis – Cleary Gottlieb Steen & Hamilton; Jodi Erickson – Cleary Gottlieb Steen & Hamilton; Hannah Esslemont – Cleary Gottlieb Steen & Hamilton; Meyer Fedida – Cleary Gottlieb Steen & Hamilton; Michael Gerstenzang – Cleary Gottlieb Steen & Hamilton; Maurice Gindi – Cleary Gottlieb Steen & Hamilton; Daniel Hanna – Cleary Gottlieb Steen & Hamilton; Alexander Kurtz – Cleary Gottlieb Steen & Hamilton; Adrian Leipsic – Cleary Gottlieb Steen & Hamilton; Colin Lloyd – Cleary Gottlieb Steen & Hamilton; Max Noreng – Cleary Gottlieb Steen & Hamilton; Reshama Patel – Cleary Gottlieb Steen & Hamilton; Ashley Powell – Cleary Gottlieb Steen & Hamilton; Vilma Preta – Cleary Gottlieb Steen & Hamilton; Mallory Suede Ross – Cleary Gottlieb Steen & Hamilton; Amy Shi – Cleary Gottlieb Steen & Hamilton; Clayton Simmons – Cleary Gottlieb Steen & Hamilton; Ferdisha Snagg – Cleary Gottlieb Steen & Hamilton; Sophia Yuan – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Blackstone;

Author: Ambrogio Visconti