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Alternative Market Briefing

Emerging biotech hedge fund approaches first full year with 42% gains

Tuesday, August 07, 2018

B. G., Opalesque Geneva for New Managers:

A biotech hedge fund run out of New York and launched in July last year returned +25% in 2017 and is up 13% YTD to the end of May. That's a total gain of 42%, compared to 5% for the NASDAQ Biotechnology Index (NBI).

According to an email seen by Opalesque, Scoragon Partners LP is a long/short equity fund specializing in biotechnology investments. It is managed by Scoragon Capital LLC - previously known as ED Capital LLC. Scoragon was founded in 2015 by Karina Rabayeva, who was before that portfolio manager for ED Capital and has a background in the healthcare sector. Elliot Deniloff, a Russian securities specialist, headed ED Capital.

Scoragon Partners LP, which is domiciled in Delaware, invests in promising companies across the biotechnology space, primarily focusing on novel therapeutics. Investments range from early clinical-stage to more mature commercial-stage companies across different indications. The management fee is 2%, the incentive fee 2%, and the lock-up period is a year-long.

Pharmaceutical and biotech companies were a $1.1tln market in 2016 and this market is expected to reach $1.5tln in global drug sales by 2021, ......................

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