International Herald Tribune – TPG-Axon Capital Management, a $5.8 billion hedge fund run by Dinakar Singh, is teaming up with a partner to invest in drugs during their final stage of testing.
TPG-Axon and Quintiles Transnational will make investments when pharmaceutical companies need a large amount of cash to finish testing, shepherd drugs through the regulatory process and market them to doctors, Singh said Thursday. Quintiles Transnational has already invested $1.5 billion in drug development and biotechnology companies. “This alliance further enhances TPG-Axon’s ability to find, analyze and act on nontraditional investment opportunities in the life sciences,” Singh said.
Hedge funds, feeling crowded as investors cram into the markets, are jumping into longer-term investments once led by private equity firms. Returns from traditional strategies have dropped as hedge fund assets have mushroomed to $1.2 trillion.
