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New York Firm To Launch Long/Short Healthcare Fund
Sio Capital Management will unveil its flagship long/short equity Sio Partners fund with an anticipated mid-May launch date. The fund will take 20-25 long positions and 10 short positions in the healthcare sector, according to Michael Castor, portfolio manager.
The fund will identify healthcare investments that U.S.-only funds are not targeting. It will also eye various technological, political and environmental issues surrounding healthcare, Castor said. Castor, declining to elaborate on specific investments, noted the majority of their holdings will be long-term, over a year.
Prior to starting Sio Capital, Castor was a consumer non-cyclical/healthcare portfolio manager at AllianceBernstein Institutional Investment Management.
The fund carries a $1 million investment minimum, 1.5/20 fees and has a one-year lockup with quarterly redemption. Merlin Securities is the prime broker.