Healthcare Vet Shuttering Hedge Funds

Mar 14 2008 | 10:32am ET

Boston-based Andesite Management is reportedly pulling the plug on its healthcare hedge funds because they lack sufficient capital to compete in the current market.

Andesite principal Hamilton Mehlman told investors last week that he’s shutting down the $100 million shop and will return capital in the Andesite Life Sciences funds at the end of May, according to HFAlert.

But despite closing up shop, Mehlman remains optimistic on the healthcare sector, which he said should benefit from population growth, increasing worldwide wealth and technological advancement, and urged his investors to stay in the sector.

Mehlman did not return calls for further comments. 

Mehlman founded Andesite in 2003 and since inception his funds have averaged annual returns of 16.8% through 2007.

Prior to starting Andesite, Mehlman managed a life science hedge fund for Essex Investment.  


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...