Blackstone to invest £850m into UK

Blackstone is set to announce £850m investment in the UK, creating 2,700 jobs.

The investment will be by Blackstone-owned BioMed Realty.

The investment will lead to a purpose-built lab and office space in Cambridge that will focus on vaccines and responding to global health crises.

The announcement is due to take place whilst Boris Johnson is on a US visit.

“The success of the UK-US trade partnership reflects the deep closeness between our countries and people,” said Johnson.

“It’s no surprise that when American companies look to expand and collaborate internationally they so often look to the UK, and vice versa. Every American dollar spent in the UK is creating jobs around the country and boosting the UK’s reputation in crucial and highly-skilled areas like health and scientific research.

“The UK is one of the best places in the world to do business, and we see meaningful opportunity for long term investment,” said Stephen A. Schwarzman, Chairman and Chief Executive Officer of Blackstone. “That includes today’s announcement in the life sciences sector, where we want to help cement the UK’s place as a global leader in life sciences and technology, including vaccine development.”