Saturday, 26 July 2014
Last updated 19 hours ago
Jun 11 2012 | 1:49am ET
Hedge fund RA Capital Management is opening up, and has added some marketing firepower to double its assets—or more.
The Boston-based firm hired Michael Calore to market its long/short equity Healthcare Fund for the first time. The decade-old offering, which focuses on small-cap biotechnology and life sciences companies, currently manages $230 million, but RA hopes to actively raise $100 million, leaving room to organically grow to $500 million to $700 million. The fund was initially launched as the private fund of Rich Aldrich, who was a founding member of Cambridge, Ma.-based Vertex Pharmaceuticals.
Calore is to target family offices, funds of hedge funds and small- and mid-sized institutional investors. It has a $2 million minimum investment requirement with a one-year soft lockup and charges 2% for management and 20% for performance.
RA, which was co-founded by Peter Kolchinsky, is making things as easy for Calore as possible. The fund is up 19% this year and returned 14% last year.
Calore worked at Brighton House Associates before joining RA.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…