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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Perella Weinberg Liquidates Healthcare Fund

Sep 09, 2013
Jing Chen

New York-based asset manager and hedge fund advisor Perella Weinberg Partners has shut down one of its health care funds.

CNBC reported that Perella Weinberg’s decision to liquidate the fund was prompted by the success of the industry’s more established offerings that also invest in health care, including those at Glenview Capital Management and Visium Asset Management.

Perella Weinberg’s healthcare fund fell 2.24% this year through June, compared to the industry’s 19.06% gain according to the S&P 500 Healthcare Index.

Separately, the firm also shut down its European public healthcare vehicle it had set up in partnership with Morgan Stanley.

With offices around the world, including London, Beijing and Abu Dhabi, Perella manages approximately $9.5 billion in assets.

 

 

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