UBS is set to continue to raise funds for investment in the life sciences sector, targeting its second fund close at around £1bn. This follows the first close of UBS’s dedicated fund at £400m.
At a breakfast briefing on 27 September, Zachary Gauge, head of European research and strategy, and Olivia Drew, manager of UBS UK’s life sciences portfolio, said the funds will be deployed across UBS’s existing projects as well as acquisitions.
“We have some locations that we want to secure within the Golden Triangle to complete our own ecosystem. We think about how all of our sites interact together. There is one corridor that we’re looking to create, particularly with focus on manufacturing. London and Cambridge are very interesting markets that we’re monitoring, and watching and waiting for the right opportunity,” said Drew.
UBS is also considering investment into European life sciences, with Gauge noting that Europe is about five years behind the UK when it comes to the sector.
“This is why I’m quite confident in the UK,” said Gauge. “The UK has unique clusters put together, which gives it a scale that appeals to any investor or institutional landlord. You can really build big products that you need, whereas the funding in Europe is really scattered.”
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