Viking Global Investors, the $32 billion hedge fund firm, hired Justin Lake from JPMorgan Chase & Co. to make public and private health care investments.
Lake, who had worked at JPMorgan since 2012 and was a managing director, will join the Greenwich, Connecticut-based firm at the end of May, according to an e-mail he sent notifying people of his move, a copy of which was obtained by Bloomberg. He will focus on managed care and provider investments.
Health care contributed to some of Viking’s success last year as the firm, run by Andreas Halvorsen, profited from mergers and acquisitions. Viking made $4 billion for clients in 2014, the second most profitable hedge fund for clients after Bill Ackman’s Pershing Square Capital Management, according to LCH Investments NV, a London-based firm that invests in funds.
Among Viking’s biggest health care holdings as of Dec. 31 were companies recently involved in consolidation, including Valeant Pharmaceuticals International Inc., Actavis Plc, Allergan Inc. and Salix Pharmaceuticals Ltd., according to a regulatory filing. It also holds stakes in hospital chain HCA Holdings Inc. and insurer Anthem Inc.
Lake declined to comment on the e-mail, as did spokeswomen for Viking and JPMorgan.