Frazier Life Sciences Management, Lp
- Regulatory AUM
- $7.0B
- Discretionary
- $7.0B
- Clients
- 8
- Avg AUM / client
- $871M
- Accounts
- 8
- Employees
- 64
AUM over time
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 8 | $7.0B | 100.0% |
Private funds (8)
Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $2.7B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Frazier Life Sciences Public Fund, L.P. | Hedge Fund | Delaware | $900M | 119 |
| Frazier Life Sciences X, L.P. | Private Equity Fund | Delaware | $567M | 72 |
| Frazier Life Sciences Ix, L.P. | Venture Capital Fund | Delaware | $404M | 54 |
| Frazier Life Sciences Xi, L.P. | Venture Capital Fund | Delaware | $316M | 99 |
| Frazier Life Sciences Public Overage Fund, L.P. | Hedge Fund | Delaware | $281M | 61 |
| Frazier Life Sciences Viii, L.P. | Venture Capital Fund | Delaware | $161M | 45 |
| Frazier Healthcare Vii, L.P. | Private Equity Fund | Delaware | $56.6M | 39 |
| Frazier Healthcare Vii A, L.P. | Private Equity Fund | Delaware | $16.1M | 5 |
People (6)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Heron, Patrick, James | Managing Partner | Jan 2021 (6y) | ≈ 37.5% – 75% via Galena Holdings, Llc | |
| Topper, James, Newman | Managing Partner | Jan 2021 (6y) | ≈ 37.5% – 75% via Topper Family, Llc | |
| Bailey, Steve, Ray | Chief Financial Officer & Chief Compliance Officer | Nov 2021 (5y) | Less than 5% | |
| Brush, James | General Partner & Portfolio Manager | Nov 2021 (5y) | Less than 5% | |
| Cha, Albert, (Nmn) | Managing Partner | Nov 2021 (5y) | Less than 5% | |
| Estes, Daniel | General Partner | Nov 2021 (5y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Galena Holdings, Llc | Limited Partner | Nov 2021 | A | 50% – 75% |
| Topper Family, Llc | Limited Partner | Nov 2021 | A | 50% – 75% |
| Frazier Life Sciences Management, L.L.C. | General Partner | Nov 2021 | A | Less than 5% |
Estimated effective ownership (look-through of filed bands):
- Heron, Patrick, James: 75% – 100% of Galena Holdings, Llc × 50% – 75% direct ≈ 37.5% – 75% of the firm
- Topper, James, Newman: 75% – 100% of Topper Family, Llc × 50% – 75% direct ≈ 37.5% – 75% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (8, $2.7B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Frazier Life Sciences Public Fund, L.P. | Hedge Fund | $900M | $5.0M | 119 |
| Frazier Life Sciences X, L.P. | Private Equity Fund | $567M | $3.0M | 72 |
| Frazier Life Sciences Ix, L.P. | Venture Capital Fund | $404M | $3.0M | 54 |
| Frazier Life Sciences Xi, L.P. | Venture Capital Fund | $316M | $5.0M | 99 |
| Frazier Life Sciences Public Overage Fund, L.P. | Hedge Fund | $281M | $1.0M | 61 |
| Frazier Life Sciences Viii, L.P. | Venture Capital Fund | $161M | $3.0M | 45 |
| Frazier Healthcare Vii, L.P. | Private Equity Fund | $56.6M | $5.0M | 39 |
| Frazier Healthcare Vii A, L.P. | Private Equity Fund | $16.1M | $5.0M | 5 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 3.02 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports it does not have custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗