Averill Launches a New Fund

Averill Madison will have a long bias and will focus primarily on large-cap stocks.

Seongjoon Cho/Bloomberg

Seongjoon Cho/Bloomberg

Biopharma specialist Averill Partners has launched Averill Madison, a new offshoot fund, according to an investor.

The new fund, which began trading in November, currently has $130 million under management. However, according to the investor, Madison is thought to be more scalable than the flagship product because it will predominantly emphasize large-cap stocks, while Averill Partners devotes roughly three-quarters of its capital to small- and mid-cap (SMID) stocks.

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