Aisling Capital raised $650 million for its third life sciences fund, despite a tepid fund-raising market.
The firm had raised $579 million from 53 investors by September, 2008, according to a regulatory filing. The firm lists its hard cap at $750 million.
The firm could not immediately be reached for comment.
“We appreciate the support of our existing and new limited partners, particularly during these times of market turbulence,” Senior Managing Partner Dennis Purcell said in a statement.
The firm counted the California Public Employees Retirement System as one of the investors the $550 million second fund it raised in 2005. The second fund called down $51.5 million of the $80 million CalPERS committed. The pension fund reports the remaining value of the money it has put in at $47.6 million, indicating the firm has lost more than $4 million of the pension fund’s money, according to estimates made at the end of June 2008.
New York-based Aisling was formerly known as the Perseus-Soros Management Co. —Alexander Haislip