The National Pension Service of South Korea has committed $500 million to Blackstone's new life sciences real estate fund, Life Science Office Real Estate Perpetual Fund, also known as Blackstone Property Partners Life Sciences, reported The Korea Economic Daily.
The investment marks the South Korean pension fund's first investment in a vehicle targeting life sciences properties.
BPP Life Sciences is Blackstone Real Estate’s long-term, perpetual capital, core-plus life sciences strategy. BPP Life Sciences owns BioMed Realty, Blackstone’s life sciences real estate portfolio company.
BPP Life Sciences has a $12 billion fundraising target, and so far has raised $8.4 billion. It has begun committing its capital. Recently, BPP Life Sciences completed its previously announced acquisition of a best‐in‐class, 2.3 m
