# Frazier Life Sciences Management, LP

> Frazier Life Sciences Management, LP is an SEC-registered investment advisory firm in Palo Alto, CA, registered since 2021, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 317522
- Filed as: FRAZIER LIFE SCIENCES MANAGEMENT, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Palo Alto, CA
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/317522
- AdvisorCensus page: https://advisorcensus.com/firm/frazier-life-sciences-management-lp-palo-alto-ca-317522

## Quick answers

**How is Frazier Life Sciences Management, LP compensated?**
On its Form ADV (Item 5.E, October 2026), Frazier Life Sciences Management, LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is Frazier Life Sciences Management, LP located?**
Frazier Life Sciences Management, LP's principal office is in Palo Alto, CA, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Frazier Life Sciences Management, LP registered with the SEC or a state?**
Frazier Life Sciences Management, LP is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 317522.

**How much does Frazier Life Sciences Management, LP manage?**
Frazier Life Sciences Management, LP reports $6,966,857,739 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Frazier Life Sciences Management, LP's assets and staff changed since 2022?**
In the Form ADV data for Frazier Life Sciences Management, LP: Regulatory assets under management: $4,035,931,342 in the October 2022 data and $6,966,857,739 in the October 2026 data, up 73%. Total employees: 46 in October 2022 and 64 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Frazier Life Sciences Management, LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (8).

**Does Frazier Life Sciences Management, LP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/317522

**What changed in Frazier Life Sciences Management, LP's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 44 to 47. Regulatory assets under management went from $4,334,440,401 to $6,966,857,739 (+61%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $6,966,857,739
- Discretionary: $6,966,857,739
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 8 | $6,966,857,739 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2021 (4 years)
- Employees: 64 total, 47 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- San Diego, CA

### Websites listed on Form ADV (Item 1.I)
- frazierls.com
- LinkedIn @frazier-life-sciences

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | $4,035,931,342 | 46 | March 31, 2022 |
| October 2023 | $3,576,923,882 | 49 | March 31, 2023 |
| October 2024 | $3,560,674,175 | 53 | March 30, 2024 |
| October 2025 | $4,334,440,401 | 63 | March 31, 2025 |
| October 2026 | $6,966,857,739 | 64 | March 31, 2026 |

Regulatory assets under management: $4,035,931,342 in the October 2022 data and $6,966,857,739 in the October 2026 data, up 73%.
Total employees: 46 in October 2022 and 64 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 44 to 47.
- Regulatory assets under management went from $4,334,440,401 to $6,966,857,739 (+61%).
- Updated its list of owners and control persons (Schedule A).

### February 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Frazier Life Sciences Management, LP (CRD 317522): Form ADV filing data as of October 2026.