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

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of