Alex Karnal’s Hedge Fund to Launch in April With $3.5 Billion
- Braidwell will make public and private wagers in health care
- Ex-Deerfield partner opens Connecticut firm with 25 employees
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Former Deerfield Management partner Alex Karnal is starting his $3.5 billion hedge fund next month, one of the biggest U.S. launches in years.
His firm, Braidwell, will make public and private health-care investments, with a focus on biotechnology, pharmaceuticals, and medical devices and diagnostics, according to people familiar with the matter. It will debut April 1 and has already raised the cash in commitments, which it will call on over time as needed, the people said.