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May 12, 2006
Hedge funds widen their horizon...
No doubt...the hedge fund market is getting crowded. This is evident with the emerging trend where the funds are exploring investing in non-traditional areas like life sciences. Well, this is certainly not out of love for research, but the economics that is pulling the investors to take the risk.
Taking the lead here is...TPG-Axon Capital Management, a $5.8 billion hedge fund and its partner, Quintiles Transnational, who are planning to invest in drugs during their final stage of testing.
According to Ron Wooten, executive vice president at Quintiles, "Investments in drug development produced annual returns of 18 percent to 22 percent during the past 10 years."
Read more here
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