Blue Owl Capital will acquire funds managed by Cowen Healthcare Investments – CHI -, a life sciences investment manager, from Cowen Investment Management, or CIM. The transaction is subject to customary closing conditions and expected to close in Q4. The acquisition will add approximately $1B in assets across several funds. The CHI team will become full-time Blue Owl employees, including senior leaders Kevin Raidy, Tim Anderson and Rob Sine. Upon completion of the transaction, CHI’s funds will be rebranded to Blue Owl Healthcare Opportunities. Blue Owl’s Life Science efforts are focused on credit, royalty and growth equity investments in biopharmaceutical, medical technology, and healthcare companies and products. As part of Blue Owl, CHI will continue to invest primarily in mid-development stage biotherapeutics.
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