HFM Week: Former Discovery pro preps healthcare HF

HFM Week: Former Discovery pro preps healthcare HF

Former Discovery pro preps healthcare HF

Posted By Michael Rodwell On October 19, 2020 @ 4:21 pm In News, US

An ex-Discovery Capital Management senior healthcare analyst is prepping a hedge fund focused on US healthcare stocks. Curtis Hogue plans to launch Dune Lake Capital in the first quarter next year.

Hogue is targeting between $50-150m for launch, according to a source. He had originally planned to begin trading in summer 2020 but fundraising was postponed due to the Covid-19 crisis. An incubator fund with internal capital will now launch in December or January.

Hogue was a senior analyst at Robert Citrone’s Discovery Capital Management for over seven years. At DCM he covered global healthcare stocks including US therapeutics, Japanese pharmaceuticals and European pharma & biotechnologies.

After DCM, Hogue spent a short stint at Citadel stock picking unit, Aptigon Capital, before it was shuttered in early 2019.

Dune Lake will adopt a low-net healthcare strategy initially focused on US equities. The portfolio will consist of between 80-100 names within the biotech, pharma and therapeutics sectors, according to sources.

HFM understands the firm will outsource COO/CFO responsibilities to Constellation and trading to Cowen. One unnamed prime broker has been selected and a second could be hired dependant on fundraising, according to a source. Centaur Fund Services will provide administrative duties.

There has been a spate of healthcare hedge fund launches throughout 2020. Last week, venture capital firm Decheng Capital registered [1] the Decheng Global Healthcare Fund while former GMT Capital and ThirdPoint analysts neared launch with two as-yet unnamed firms.

A number of asset management firms have been indicating their interest in healthcare strategies.

Recently Keebeck Wealth Management [2] and Boston Private Wealth both expressed a desire to increase exposure to the sector. “We have certainly been looking closely at equity long/short managers who can invest adequately in growth areas such as healthcare,” BPW’s chief investment officer told [3] HFM.

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