Galleon’s Bernstein Joins Healthcare Investment Firm

Jan 27 2010 | 3:39am ET

Healthcare investment firm HealthCor Group has hired a former Galleon Group hedge fund manager.

Jeff Bernstein has joined the $3 billion New York-based firm as a portfolio manager, Bloomberg News reports. HealthCor focuses on the healthcare and life sciences industries; among its investment vehicles is a $300 million private equity fund.

Bernstein spent four years at Galleon in two separate stints. He first joined the New York hedge fund, which closed last year after founder Raj Rajaratnam was charged with insider-trading, in 2000 from Goldman Sachs to manage its New Media fund. He left in 2002 to found his own hedge fund, Keel Capital Management, before returning to Galleon in 2008.

Bernstein was a co-manager of Galleon’s flagship Diversified Fund during his second go-around with the firm.

At least four top Galleon employees, including Bernstein, have joined separate firms this year. Citadel Investment Group hired Charles Benziger, while Soros Fund Management added Eric Wasserstrom and Rajeev Patel. The New York-based firm has been trying—so far without success—to find another firm for its staff to move to.

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