New Onshore Healthcare Equities Fund

MOORESTOWN, N.J. (HedgeWorld.com)–Tryphon Capital Advisers Inc., which has managed an offshore long/short health care equities fund since October 2000, announced the launch of its onshore counterpart.

The new fund, Tryphon Capital Management LLC, starts with approximately US$1 million in assets and will take diversified positions in pharmaceutical, biotech and health services companies, according to Luke A. Zerdes, vice president of marketing. Tryphon’s portfolio manager is Gerry D. Koumatos.

Its offshore sibling, Tryphon Fund Inc., domiciled in the Cayman Islands, had a rocky start in the fourth quarter of 2000 with a negative return, but it’s performed well since and now has US$8 million assets under management. That startup was “sort of rough,” Mr. Zerdes said, but the “biotech index was down quite a bit more” than the fund for that quarter.