Mariner Investment Group has named Robert Hodgson and Michael Oberdorf to run a global healthcare long/short equity portfolio on the Mariner Incubation Platform.
Mariner originally launched the mandate in April 2013 to be managed by leading investment talent sourced from the hedge fund industry.
Hodgson and Oberdorf formerly were founding partners and portfolio managers of Lenus Capital Partners where they managed a long/short equity healthcare fund, and had previously worked closely together at both BlackRock and Merrill Lynch Investment Managers.
It is the fifth addition to the investment team managing the current Mariner Incubation Platform mandate.
The Mariner team will employ a healthcare long/short strategy that seeks to capitalise on Hodgson's experience and perspective in managing healthcare equity portfolios gained at leading investment managers and hedge funds since 1997.
Oberdorf brings a strong equity and equity option analysis background to further strengthen the team's capabilities. The team seeks to produce strong risk-adjusted absolute returns following a fundamentally-driven, strategically-focused investment strategy across the breadth of the healthcare sector.
"Bob and Mike bring demonstrated success in implementing a healthcare long/short strategy and an impressive long term track record in trading healthcare equities. They have clearly shown ability to generate differentiated value-added returns in the healthcare space," says Bracebridge Young, Mariner's chief executive officer. "We expect the global healthcare sector will continue to offer strong risk adjusted returns given the unprecedented levels of medical-scientific advancement and innovation taking place worldwide combined with increased demand from ageing populations in developed countries and the rising demand and ability to afford modern healthcare in developing countries. Moreover, the global healthcare sector is very large and we believe is particularly appropriate for a long/short strategy managed by specialists given the sector's unique characteristics and wide dispersion in individual stock returns. We are excited to have Bob and Mike managing this portfolio on our Mariner Incubation Platform."
"The Mariner Incubation Platform offers us the opportunity to combine the investment strategy we have employed successfully for other client accounts with the institutional quality infrastructure of a strong strategic partner allowing us to build a lasting, scalable business," says Hodgson. "The platform will also provide us with access to other talented investment and risk management professionals that will enable us to further enhance our investment process. As the market emerges from the shadow of macroeconomic turmoil and central bank led monetary stimulus, we anticipate the historical fundamentally-driven factors underlying equity performance will re-emerge. In this environment, we believe our strategy is uniquely positioned to take advantage of our experience and insights to generate attractive risk-adjusted investment returns for our clients."
The Mariner Incubation Platform allocates capital to industry-leading and established talent in areas that the firm considers investment opportunities primarily in the rate, equity and credit markets. Mariner provides the portfolio managers with robust infrastructure support as well as the potential to create future standalone advisory relationships including hedge funds. Managers on the platform oversee portfolios with initial investments ranging from USD50m to USD100m.