Pharmaceuticals baron Mori Arkin is investing about $15 million of his personal wealth in a global life-sciences oriented hedge fund, run by the Israeli company Sphera.
Arkin is the vice-chairman of Perrigo (Nasdaq, TASE: PRGO), which bought his authority Agis Industries, and is one of the people who now owns Bezeq (TASE: BZEQ) .
Sphera has begun raising capital for a new fund backed mainly by institutional investors such as insurance companies and provident funds. It is also targeting advanced private investors, such as Arkin.
The fund will target publicly traded companies engaged in life sciences, and will adopt the short/long hedging strategy typical of the Sphera funds.
The fund is managed by a team recruited six months ago for the purpose. Its leader is Doron Brin, a managing partner in Sphera. Another member is Menachem Inbar, representing Arkin, and then there's equity analyst Ori Hershkovits, who spent five years analyzing Pharmaceuticals at Leader Capital Markets.
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