# Perceptive Advisors

Perceptive Advisors is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** 51 Astor Place, 10th Floor, New York, NY 10003, United States
- **Founded:** 1999
- **Assets under management:** $8 billion (per the firm, October 2025)
- **Website:** www.perceptivelife.com
- **Wikidata:** Q117600251

## Regulatory record

- **CRD number:** 154703
- **SEC file number:** 801-71841
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/154703

## About

Perceptive Advisors is an SEC-registered investment adviser in New York, NY, registered since 2010. The firm manages $11.8 billion in regulatory assets. It has 49 employees and 28 investment advisers.

## Sectors

- Healthcare Services
- Digital Health

## Offices

- Southampton, NY
- Sheridan, WY
- Miami Beach, FL
- Greenwich, CT

## People

- Joseph Edelman — Chief Executive Officer & Portfolio Manager
- Adam Stone — Chief Investment Officer & Head of Research
- Sam Chawla — Portfolio Manager, Credit
- Michael Altman — Head of Strategy

## Questions

### Who runs investment decisions at Perceptive Advisors?

CEO and Portfolio Manager Joseph Edelman leads the firm alongside CIO and Head of Research Adam Stone. Sam Chawla oversees credit investments, and Michael Altman directs strategy. The firm emphasizes a collaborative, science-driven committee process where MDs and PhDs evaluate opportunities alongside financial professionals.

### How does Perceptive Advisors source proprietary deal flow?

Perceptive leans on its in-house scientific team — trained technologists, molecular biologists, and clinicians — to identify underappreciated assets before they reach broad auction. By maintaining a singular focus on life sciences, the firm aims to see earlier into academic and clinical pipelines than generalist investors.

### Does Perceptive participate in fund commitments or only direct deals?

Perceptive invests directly across the capital structure — private equity, public equity, venture, and credit — rather than operating as a fund-of-funds. There is no public evidence that the firm allocates to outside GPs.

### What investment stages does Perceptive typically target?

The firm covers the full life cycle: seed, start-up, early-stage, expansion, late-stage venture, and public companies. Its credit arm additionally provides venture debt, allowing it to back companies from preclinical development through commercial maturity.

### Which sectors does Perceptive Advisors explicitly avoid?

Perceptive is exclusively focused on life sciences — biotechnology, pharmaceuticals, diagnostics, medical devices, and healthcare technology. It does not invest in sectors outside healthcare, which is the fundamental constraint for allocators seeking pure-play exposure.

### What is Perceptive's known posture on co-investments alongside external GPs?

Perceptive operates its own strategies across venture, public equity, and credit and has not disclosed co-investment programs with external general partners. Allocators negotiating side letters should confirm the absence or presence of co-invest vehicles directly with investor relations.

## Related profiles

- [Perception Capital Partners](https://altss.com/profile/perception-capital-partners)
- [Perceptive Edge Investment Management](https://altss.com/profile/perceptive-edge-investment-management)

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Last updated: 2026-06-03T20:00:00.000Z

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