Blackstone Raises $6.3 Billion for Latest Life-Sciences Fund

Blackstone Inc. closed its latest life-sciences fund with $6.3 billion of commitments, the firm’s biggest haul for backing clinical trials of medicines and technologies.

The new vehicle, Blackstone Life Sciences VI, is larger than a previous vintage that closed in 2020 with $4.6 billion, the company said Monday in an emailed statement.

The firm’s life-sciences division, led by Nicholas Galakatos, finances the last phase of clinical development of products in partnerships with pharmaceutical, medical-technology and biotech companies.

The firm has committed $2 billion in the past 12 months to products it believes will have the greatest impact on ...