Emerging Healthcare Hedge Fund Spotlight: Rock Springs Capital and Cormorant Asset Management

April 4th, 2016
| More
Several healthcare focused hedge fund managers that were launched over the past few years are quickly making a name for themselves among the sector’s elite specialists. In fact, nearly 25% of the The Top Healthcare, Pharmaceutical and Biotechnology Hedge Fund List is now made up of emerging managers.

In this week’s Hedge Fund Spotlight report, we look at Rock Springs Capital Management and Cormorant Asset Management, both of which were founded in 2013.

Rock Springs Capital is now ranked #26 on the Top Healthcare Hedge Fund List and #16 on the Top Emerging Hedge Fund Managers List , after having seen its assets jump by 7.1% quarter-over-quarter. The healthcare focused fund employs a global long/short equity investment strategy and is led by Kris Jenner, Mark Bussard and Graham McPhail. Prior to founding the firm, Jenner was the lead portfolio manager for T. Rowe Price's Health Sciences Fund, while Bussard and McPhail were research analysts at T. Rowe. During his final five years at T. Rowe, Jenner’s Health Sciences mutual fund outperformed 83% of its peers.

Cormorant Asset Management is now ranked #37 on the Top Healthcare Hedge Fund List and #32 on the Top Emerging Hedge Fund Managers List, after having seen its assets jump by an impressive 33.5% quarter-over-quarter. Cormorant was founded by Bihua Chen, who serves as the firm’s CEO and lead Portfolio Manager. The firm manages a global long/short public equity fund in healthcare, as well as a private equity/venture capital fund.

Prior to forming Cormorant Asset Management, Ms. Chen was a Venture Partner at Beacon Bioventures and Fidelity Biosciences, and before that she spent several years at Millennium Management, where she oversaw a portfolio of healthcare investments that peaked at $800M.

Ranking Methodology: The Top Healthcare, Pharmaceutical and Biotechnology Hedge Fund rankings are compiled on a quarterly basis using hedge fund firms’ overall U.S. equity assets under management. The list includes the top hedge funds that have more than 35% of their U.S. equity assets invested in U.S. listed Healthcare, Pharma & Biotech companies. To view the Top Healthcare, Pharma & Biotech Hedge Fund list in its entirety, please visit HedgeTracker’s Hedge Fund Portal.
For Detailed Investor Profiles on these Investors, click below:
Cormorant Asset Management LLC
Millennium Management
Rock Springs Capital Management
Related People: Bihua Chen (CEO); David Nolan; Graham McPhail; Israel Izzy Englander; Jonathan Larkin*;; Kris Jenner; Mark Bussard; Michael Gelband
Related Entities: ; ; Cormorant Global Healthcare Fund LP; Cormorant Global Healthcare GP LLC; Cormorant Private Healthcare GP LLC; Cormorant Private Healthcare Offshore Fund I LP; Rock Springs Capital Fund LP; Rock Springs Capital Master Fund LP; Rock Springs Capital Offshore Fund LP; Rock Springs General Partner LLC; T. Rowe Price Health Sciences Fund (PRHSX)*; Cormorant Global Healthcare Master Fund LP; Millennium International Fund; Millennium Management LLC; Millennium Partners; Millennium Partners LP; Millennium U.S.A.; Rock Springs General Partner LLC
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News; Hedge Fund Jobs, Hirings and Firings; Hedge Fund Launches and Hedge Fund Closings


More Recent Headlines

Top Activist Hedge Funds continue to tumble; Assets fall -3.4%

NYC’s Largest Hedge Funds squeak out Quarterly Gain; The 10022 Zip Code Dominates

Texas Hedge Funds are now the Biggest - At least in the Central US

Healthcare & Biotech Hedge Funds Reach New Heights as Assets Peak at $172 billion

Top Connecticut Hedge Funds manage $174B; Stamford Hedge Funds continue to gain ground on Greenwich

California’s Hedge Fund fall by -9.0%; Hit harder than NYC Funds

Largest Energy Hedge Funds hold nearly $101 billion in Energy assets; Harvest Fund Advisors retains position as largest Energy dedicated fund

Emerging Hedge Fund Managers stumble as Assets fall by 7%; Hosking Partners & Sachem Head Capital stay strong

Top Hedge Funds break $1.1B threshold, led by strong quarters from Citadel and AQR

Top TMT Hedge Funds manage $188 billion, Egerton Capital and LMR Partners lead list higher