Healthcare Hedge Fund Launch

Healthcare Hedge Fund Launch

Davidson Kempner's Wong Launches Healthcare Hedge Fund

Here's a pretty topical story, one of the top healthcare hedge fund managers has decided to strike out on his own.  Roderick Wong, who managed Davidson Kempner Capital Management's health care investments for four years, just launched RTW Investments.  Wong has been managing his own money and claims to have earned 66% in 2009 following the strategy he will use for his maiden fund which launched March 1.
The RTW fund is an event-driven vehicle, accoring to Hedge Fund Alert. It invests primarily in stocks—pharmaceuticals, medical device makers and diagnostic tool markets are its current focus—but will also invest it derivatives and fixed-income instruments.
Wong managed Davidson Kempner’s $750 million Healthcare Fund to great effect from its launch in 2006 to its peak in 2008. Beginning as a healthcare portfolio in 2005, the fund enjoyed consistent returns until 2008, when it lost 18%. Wong resigned shortly thereafter, and Davidson Kempner shuttered the fund.
At RTW, Wong is joined by three partners: Naveen Yalamanchi, a fellow doctor who served as Wong’s senior analyst at Davidson Kempner; CFO Sabera Loughran, who most recently worked at defunct hedge fund Prime Capital; and Maggie Toppin, RTW’s operations manager who joins from Minneapolis hedge fund Speece Thorson. Source

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