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12:00 AM
 | 
Sep 21, 2015
 |  BioCentury  |  Finance

Hedging in Asia

How Ally Bridge may deploy new Asia-focused healthcare hedge fund

Ally Bridge Group expects its newest investment vehicle - an Asia-focused healthcare hedge fund - will have a surplus of buying opportunities given the plunge of the stock market in China. In other territories, such as Taiwan, the firm may take a more measured approach as it thinks a floor hasn't yet been found.

Frank Yu, formerly a managing director at Goldman Sachs and head of China investments at Och-Ziff Capital, founded Ally Bridge in 2013 to invest in healthcare companies globally and to help form partnerships between companies in China and those outside the country. The firm started with a private equity vehicle that is in the midst of raising money towards a $380 million target and invests in established healthcare companies in China and private biotechs in the U.S., Europe and Israel.

The newest fund, called ABG-LB, differs in that it is unlikely to look beyond Greater China, where chief investment officer Bin Li has deep knowledge. He was Morgan Stanley's Asia healthcare equity research analyst for the past seven years.

Li and Yu aren't disclosing many details about the new hedge fund - including its size or any of its investments. However, they did tell BioCentury the fund will emphasize long positions and will seek locally listed companies throughout Greater China as well as Chinese healthcare plays listed in the U.S.

The hedge fund will invest in...

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