A joint venture of Tishman Speyer and Bellco Capital has closed a $3 billion fund to scale a global portfolio of life science companies.
Breakthrough Properties' Life Science Property Fund had initially targeted $1.5 billion in fund and co-investment capital and ultimately blew through that benchmark in direct capital and co-investment from a group that included institutional investors, sovereign wealth funds and high net worth individuals.
The $3 billion raised will enable Breakthrough to scale a "best-in-class ecosystem" for dynamic early-, mid-, and late-stage life science companies. It will use the funds to finance ongoing projects that are currently in various design and development phases and to pursue additional opportunities across the US and Europe.
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