Fri, Jun 22, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

PIPE investors look to healthcare, biotech and financial services for opportunity

Wednesday, September 30, 2009

From Kirsten Bischoff, Opalesque New York:

Private investments in public equity (PIPE) managers expect to maintain the level at which they are currently investing in, or increase their investment activity over the next 12 to 18 months, according to a new survey by Kramer Levin Naftalis & Frankel LLP and Rodman & Renshaw LLC, and released by MergerMarket.

The firms, which surveyed US PIPE investors including private equity managers, venture capital investors, hedge fund managers and mutual fund investors, will also look overwhelmingly towards the lower mid-market range for opportunities. Over half of all the respondents expect PIPE demand to see its greatest demands within the healthcare, biotechnology and life sciences industry.

"The resurgence of the biotechs is because for an extended period of time the credit markets tightened up and many of the stocks in this sector were so depressed that even if they could get PIPE financing they didn't want it," Reid Drescher, Founder and Portfolio Manager at New York-based Cape One Financial which manages a PIPE hedge fund. The return of market liquidity as well as rising market caps have brought a resurgence of transactions within this space.

In addition to rising levels of activity in the biotech sector, Drescher has also seen an incre......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Paper: The performance of stocks actively pitched by hedge funds[more]

    Using a novel dataset drawn from investment conferences from 2008 to 2013, I show that hedge funds take advantage of the publicity of these conferences to strategically release their book information to drive market demand. Specifically, hedge funds sell pitched stocks after the conferences to ta

  2. North America - US fundraising for special purpose acquisition vehicles hits record this year[more]

    From AFR.com: Special purpose acquisition vehicles (spacs) are hitting the US market at the fastest rate on record, attracting the likes of Goldman Sachs and hedge fund investor Daniel Loeb for the two largest such deals in 2018. Spacs have raised $US4.5bn so far in 2018, the largest amount fo

  3. Investing - Man Group and AQR try to take aim at private equity industry, Hedge funds poised to be winners in AT&T-Time Warner deal[more]

    Man Group and AQR try to take aim at private equity industry From FT.com: The popularity of private equity investments has prompted asset managers such as Man Group and AQR to devise strategies that aim to replicate PE returns but at a much lower cost to investors. Both companies a

  4. News Briefs: David Stemerman's hedge fund holdings shrank before his run for governor, nvestment manager TSW triggers succession plan, Alan Howard joins Peter Thiel investing in Cologne-based fintech startup[more]

    David Stemerman's hedge fund holdings shrank before his run for governor But the U.S. holdings of Stemerman's Greenwich hedge fund, Conatus Capital, shrank from $2.6 billion at the apex to just over $1 billion before he announced his move into politics. (Hartford Courant) Inv

  5. British Empire: Pershing's 23% discount 'unsustainable'[more]

    From Citywire: The wide discount on Pershing Square Holdings (PSH) is 'unsustainable' and puts star hedge fund manager Bill Ackman under pressure, says British Empire (BTEM). Pershing is the third largest holding in the £850 million British Empire trust, managed by Joe Bauernfreund, which sp