Breakthrough Properties secures $430m for new life sciences fund
Breakthrough Properties has returned to the fundraising market after a three-year pause, raising $430 million in the first close of its new Breakthrough Properties Growth Portfolio II. The firm is seeking $1.5 billion for the vehicle.
Breakthrough reports improving conditions for specialist investors, including firmer occupational demand from biopharma companies, a more stable interest-rate environment and a marked recovery in public biotech equities.
The new fund will prioritise value-add and dislocation-led opportunities across the United States, United Kingdom and continental Europe, representing a shift away from the speculative developments that characterised the 2022 programme. With generalist capital retreating from the sector, the firm expects to acquire high-quality assets at more favourable pricing.
Several major investors from the inaugural fund have recommitted, signalling continued institutional confidence in life sciences real estate.
Breakthrough Properties lists three European assets on its website:
Vitrum, Cambridge
Trinity, Oxford
One Helix, Amsterdam
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