Hedge Funds Loved This Investment in 2019

Managers hope 2020 is another huge year for health care and biopharma IPOs.

Simon Dawson/Bloomberg

Simon Dawson/Bloomberg

Unicorns may get most of the IPO headlines. But as far as some hedge funds are concerned, healthcare — especially fledgling biopharma companies — is where the action is when it comes to new issues.

In 2019, 69 healthcare IPOs raised $9.2 billion, according to Renaissance Capital, a provider of institutional pre-IPO research.

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