Overview
The Clarus Adviser is a Delaware limited liability company. The Clarus Adviser provides
investment advisory services to Clarus Lifesciences I, L.P.; Clarus Lifesciences II, L.P.; Clarus
Lifesciences III, L.P.; Clarus Defined Exit I, L.P.; Clarus Defined Exit II, L.P.; Clarus IV-A, L.P.; Clarus
IV-B, L.P.; Clarus IV-C, L.P.; and Clarus IV-D, L.P. and any parallel or alternative investment
vehicle formed in connection therewith (together, the “Funds”). The Funds are investment
funds which specialize in investments in the life sciences industry, including the healthcare,
pharmaceutical, biotechnology and medical device sectors. Affiliates of the Clarus Adviser serve
as the general partner (the “General Partners”) of each of the Funds. The Clarus Adviser was
established in 2005.
References throughout this Brochure to the term “Sponsor” describe, as the context or
applicable law requires, individually and collectively, the General Partner of the applicable
Fund(s) and the Clarus Adviser, and all references herein to the Sponsor or to any rights,
powers, responsibilities, or activities of the Sponsor are qualified in all respects by the
Organizational Documents (as defined herein) of the applicable Fund(s), all of which should be
carefully reviewed by each potential investor in a Fund for, among other things, a more detailed
description
of the relative rights, powers, responsibilities and activities of each of the applicable
General Partner(s) and the Clarus Adviser.
The ultimate parent of the Clarus Adviser is Blackstone Inc. (together with its affiliates,
“Blackstone”), which is a publicly traded corporation listed on the New York Stock Exchange and
which trades under the ticker symbol “BX”. Blackstone is a leading global alternative investment
manager with investment vehicles focused on the private equity, real estate, hedge fund
solutions, credit, infrastructure, life sciences, secondary private equity funds of funds and multi-
asset class strategies.
Please see Item 10 – Other Financial Industry Activities and Affiliations for more information.
The Clarus Adviser’s regulatory assets under management were $1,095,696,232 as of December
31, 2023.
Description of Advisory Services
The Clarus Adviser serves as investment adviser to the Funds pursuant to the terms of the
investment advisory agreements (the “Advisory Agreements”) with respect to each of the
Funds, and makes investment decisions for the Funds including by evaluating the Funds’
investments.
The individual needs of the investors in the Funds are not the basis of investment decisions by
the Clarus Adviser. Investment advice is provided directly to the Funds by the Clarus Adviser
and not individually to the Funds’ investors.