Hedge Funds

Healthcare focus for INVESCO trio


Andy Summers, the former co-portfolio manager of INVESCO's $200 million health sciences hedge fund, has teamed up with a couple of his colleagues to start a new long/short hedge fund.

Denver, Colorado-based Silvergate Capital Management is planning to roll out a healthcare-focused fund early next year. The fund will focus primarily on small- and mid-cap stocks.

The firm's founders include Summers, who was previously the co-portfolio manager of the $2.5 billion INVESCO Health Sciences Funds; Kevin Reeder, a former medical device and healthcare services analyst at INVESCO and Rich Carney, a former financial services analyst at INVESCO.