Perella Weinberg Partners has launched a UCITS III-compliant version of the healthcare hedge fund it acquired last year.
Perella's Tokum fund invests across the healthcare industry, in biotechnology, pharmaceuticals, medical technology and other areas. The four-year-old fund is run by former Amaranth Advisors portfolio manager Emile Westergaard. Perella Weinberg hired Westergaard and took over Tokum's funds early last year.
The MS Perella Weinberg Partners Tokum Long/Short Healthcare UCITS Fund debuted yesterday on Morgan Stanley's UCITS platform, FundLogic Alternatives.
The fund "will leverage our team's bottom-up fundamental research process to identify, within the healthcare industry’s rapidly evolving technological and regulatory frameworks, material levers impacting businesses positively or negatively over a two to four-year horizon," Westergaard said. "We strongly believe our unique portfolio construction matrix, which has been developed to take into account a multi-factored set of inputs guided by absolute return objectives, implied volatility targets and liquidity requirements, fits well within the UCITS framework.”