Former Pfizer Execs Shop L/S Equity Hedge Fund

Jul 16 2007 | 6:11am ET

Groton, Conn.-based Do Asset Management has begun marketing its $10 million equity long/short fund to outside investors, with the goal of reaching $250 million by year-end.   

The fund, which launched in October 2004, is derived from the firm’s foundation as a provider of valuation and risk management to the pharmaceutical, biotech, and energy sectors. “The fund was started to apply our know-how of private asset valuation in the public markets,” said co-founder Gill Eapen. “We have a long/short strategy that tends to be market neutral and we don’t take any sector or size exposure. We don’t generally buy beta risk [instead] going after alpha.”

Eapen added that the fund can be customized for either institutional investors looking for low beta returns or high-net worth investors seeking absolute returns. The fund is being shopped by third-party marketer Alpha Introductions. 

The long/short offering, DoAM’s flagship, returned 22% on an annualized basis and 9.4% YTD. Its 1:1 levered version has fared even better, with a 25.4% annualized return and 14.6% YTD. The fund charges 2% for management and 20% for performance, with a $500,000 for investments in the fund and $3 million to $5 million for separately-managed accounts.

Eapen is a former group director of Pfizer, responsible for the company’s portfolio management. Former Pfizer executives Pierre Etienne, Dilip Mehta, Craig Saxton and Ian Williams round out DoAM’s management team.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of