The New Hedge Fund That Surged 200 Percent in 2020

Suvretta Capital affiliate Averill posted eye-popping returns, while Suvretta posted very strong gains of its own.

(Marc McAndrews/Bloomberg)

(Marc McAndrews/Bloomberg)

Averill, the new biopharmaceutical fund managed by a team under the Suvretta Capital umbrella, posted blowout returns for its first partial year of trading, according to a communication sent to clients and seen by Institutional Investor.

Averill, which manages about $350 million and began trading on March 23, gains between 195 percent and 221 percent in 2020, depending on the share class, according to the communication.

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