Biotech manager is on life support
Thu Mar 29, 2007
A struggling biotech hedge fund has offered to waive
management fees in exchange for a longer lockup and higher
performance fees after a year of sliding returns.
The arrangement has helped New York-based Mallette Capital
Management keep onshore and offshore versions of Mallette
Capital Biotech Fund open despite a 27% loss in November that
dragged its full-year return down by 40%.
ISSN: 2151-1845 / CDC10004H
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