Forward Beefs Up Healthcare Team

Feb 7 2013 | 7:55am ET

San Francisco-based alternatives specialist Forward Management, an investment advisor with $5.7 billion under management, has added two healthcare analysts.

Tim McCandless will serve as senior life sciences analyst and Greg Butz as therapeutics analyst on the global healthcare team led by portfolio manager Scott Kay.

McCandless joins Forward from Bel Air Investment Advisors, where he was senior equity analyst responsible for all healthcare investments. Prior to that, he was a principal at Chapman Capital, and before that a partner at Symmetry Capital, a long/short healthcare hedge fund. Prior to Symmetry Capital, he spent nearly four years in equity research at Banc of America Securities.

Butz comes to Forward from the healthcare investment banking group at Credit Suisse, where he was a director based in San Francisco. Before Credit Suisse, he was a vice president in the healthcare investment banking group at Morgan Stanley, based in Menlo Park. Earlier in his career, he was a sell side equity research associate covering biotechnology companies at Banc of America Securities and Robertson Stephens.

In January 2013, Forward launched a long/short equity strategy designed to capitalize on disruptions in the rapidly changing healthcare sector.

“We are pleased to welcome Tim and Greg to our team,” said Kay. “Having members with deep and focused industry experience is crucial to our work of evaluating uncovered opportunities across the healthcare universe.”

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