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PitchBook Analyst Note: Blackstone's BioMed Recap

Q4 2020

PitchBook Analyst Note: Blackstone's BioMed Recap

October 20, 2020

PitchBook Analyst Note: Blackstone's BioMed Recap
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Blackstone has announced a $14.6 billion deal to recapitalize BioMed Realty, a life sciences real estate firm that Blackstone took private in 2015 for $8.0 billion. Once approved, the deal represents the latest indication that life sciences has been a winning bet for the alternative investment giant. In this note, PitchBook analyzes the implications for Blackstone’s secular bet on the healthcare space, compares its real estate strategy and relative performance with rival Brookfield, and provides an update on the fast-growing GP-led secondaries market.