Perceptive Advisors: Platform Profile

Overview

Perceptive Advisors is a healthcare-focused investment firm founded in 1999. It invests across public and private life-sciences and healthcare opportunities using fundamental analysis and a science-driven research process.

The platform extends beyond the flagship public/private life-sciences strategy into private credit, venture capital and other capital-solutions activity.

May fit better for

• investors seeking specialist life-sciences exposure;
• allocators comfortable with public/private crossover investing;
• investors evaluating healthcare private credit or venture strategies;
• qualified investors able to tolerate clinical and regulatory risk.

May fit less well for

• investors seeking broad sector diversification;
• retail users seeking public self-service hedge-fund access;
• users who treat the 13F as the full private/public healthcare portfolio;
• investors who assume all Perceptive strategies have identical liquidity and risk.

Perceptive is SEC registered

• Legal adviser: Perceptive Advisors LLC
• CRD: 154703
• SEC number: 801-71841
• SEC registration effective: 2010-10-04
• SEC registered investment adviser: Yes

First-party AUM is approximately $11B as of June 30, 2026

Current first-party About page:

• Public AUM: approximately $11B
• Public AUM as of: 2026-06-30
• Founded: 1999
• Team members: 51

Current regulatory AUM is $11.765B

Current July 13, 2026 Form-ADV-derived data:

• Regulatory AUM: $11.765B
• Regulatory AUM as of: 2026-07-13
• Discretionary AUM: $11.765B
• Client accounts: 26
• Employees: 49

The two figures are close but use different dates and definitions.

Q2 2026 13F value is $6.662B

Current SEC filing:

• Q2 2026 13F value: $6.662B
• Q2 2026 13F as of: 2026-06-30
• Q2 2026 13F entry count: 109

The filing omits private-company investments and other non-13F exposures.

Life Sciences Fund spans public and private healthcare

Current first-party materials:

• Life Sciences Fund: Yes
• Public healthcare equities: Yes
• Private healthcare investing: Yes
• Fundamental analysis: Yes
• Data driven science: Yes
• Small and mid cap focus: Yes
• Crossover and pre IPO capability: Yes

Private credit is a strategy-level capital measure

Current first-party Credit Opportunities page states:

• Private credit capital dedicated: $3.5B
• Private credit launch: 2014
• Typical investment size: $20M-$300M

The $3.5B is a strategy/platform capital reference, not firmwide AUM.

Venture capital is also strategy specific

Current first-party Venture Capital page:

• Venture capital launch: 2018
• Venture capital dedicated capital: $700M+

Private-fund gross assets are separate from RAUM

Current Form-ADV-derived data:

• Private fund gross assets: $11.841B
• Private fund gross assets as of: 2026-07-13

Current secondary databases differ on exact fund count.

Universal terms remain undisclosed

• Public self service retail signup: No

Assessment

Perceptive's firm-level AUM and regulatory AUM are close, but the strategy-level capital figures are where errors usually occur.

The $3.5B private-credit reference and $700M+ venture-capital reference describe specific parts of the platform. They should not be added to the roughly $11B firm AUM or substituted for it.