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Firm behind world-beating L/S fund hires new co-manager

Firm behind world-beating L/S fund hires new co-manager

Rhenman Partners has boosted the capabilities of its all-conquering long/short equity fund by hiring healthcare specialist Susanna Urdmark to work alongside company founder Henrik Rhenman.

The Rhenman Healthcare Equity L/S fund previously sat first over one, three and five years for its absolute return figures in its highly-competitive peer group and now sits now lower than third place across the same timeframes to the end of August 2017.

Urdmark joins from Stockholm-based pharma company Bluefish Pharmaceuticals where she was CFO and a member of its senior management for the previous decade. She had previously worked as a portfolio manager at Handelsbanken Asset Management.

Commenting on his new co-manager, Rhenman said the addition of Urdmark was designed to help tackle the continued expansion and globalisation of the healthcare industry, which is stretching the Nordic group’s existing resources.

In addition, he said the recruitment of Urdmark will also assist in uncovering attractive shorting opportunities as the market begins to normalise.

The Rhenman Healthcare Equity L/S fund was reopened to investors in January after seeing assets drop below the €500 million soft-close threshold. It currently has €487 million in assets.

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