Private equity firms that deemed drug development too risky for their liking in the past are increasingly investing in the sector, raising dedicated funds and coming up with deals that compensate them for the uncertainty involved.
drugs for diseases including for tackling cholesterol. Some of these deals came with investments in the stock of the drug developers and loans to them.
Blackstone established a major presence in the sector in 2018 after acquiring Clarus, an investment firm specializing in clinical trial deals with $2.6 billion in assets. The strategy was emulated last year by Carlyle Group IncCarlyle is now preparing to raise a dedicated life sciences fund, using the Abingworth team, that could amass several billions of dollars, according to people familiar with the fundraising plans.
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