HFMweek | Olympian Founder Launches Biotech/Healthcare Hybrid Fund

HFMweek | Olympian Founder Launches Biotech/Healthcare Hybrid Fund


Logo for HFMweekAsclepius Life Sciences Fund, L.P. was featured in the November 1st edition of HFMweek (Hedge Fund Manager week).

Journalist Sam Macdonald highlights the October 2016 launch of Asclepius Life Sciences as a combined hedge fund, PE and VC offering.

The article features how “Olympian Group founder Michael Levas has co-founded a new biotech and healthcare hybrid fund firm.”  Mr. Macdonald reports:


“Asclepius Life Sciences invests in biotech, bio sciences and healthcare-related stocks as well as combining aspects of private equity and venture capital.

It will also look to take a “friendly” activist approach with certain business where it sees firms requiring advice.

The fund launched on 1 October with a capacity of $500m and is set to raise over $100m from early investors.

Levas’ other co-founders include Variant Pharmaceuticals CEO Steve Glover and co-founder Steven Gerst, who has held senior roles with Olympian and the Hospital Corporation of America.

Outside of the three co-founders there are a further five members of the eight-strong leadership team.

Olympian is an advisory business covering asset management, financial data implementation and conversion, market structure issues, and regulatory compliance business. The firm ran a $1bn-capacity multi-strategy hedge fund, which it closed in March this year.

Three-quarters of the Asclepius portfolio will be a hedge fund using a multi-discipline approach spanning l/s equity, relative value credit and income, short-term trading, and momentum investing alongside relative value and FX trading.

“We will be investing in life sciences companies on a global basis and anything related to the sector and we will also be doing some activism more on white knight perspective as we believe that there are companies that may need our network, our expertise and our ability to help them,” said Levas.

He added: “This will all be combined with private equity and VC opportunities on a global basis. We believe the differential with us is the combination of the all alternative asset classes within one structure.”

The fund carries a minimum investment of $250,000 with a 2% management charge discounted to 1.75% for a three-year lock-up and cut to 1.5% if capital is committed for five years.

Investors will pay a performance fee of 20% above a high-water mark, or 17.5% for the three–year, and 15% for the five-year lock-ups.”


To read, ‘Olympian Founder Launches Biotech/Healthcare Hybrid Fund ‘ on the HFMweek web site, click here.


 

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