Sunday, 29 November 2015
Last updated 1 day ago
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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…