Stuart Weisbrod and Jacob Gottlieb are currently sharing offices, working together under the same roof after they ran separate funds for close to 20 years. The two major players of the healthcare investment industry have worked together in the past at Merlin BioMed Group, and reportedly a future collaboration is in the works.
Weisbrod is a co-founder of Merlin BioMed Group, an investment management company in the healthcare sector, having portfolios in areas such as biotechnology and pharmaceuticals, among others. In the past, he held many important positions at Harpel Partners, Merrill Lynch, Oracle Partners, and Prudential-Bache Securities. While at Merlin, Jacob Gottlieb worked for Stuart Weisbrod as a portfolio manager in the year 2000.
Weisbrod has gone on and created Iguana Healthcare Partners, which had a similar strategy as Merlin, focusing heavily on public companies within the healthcare industry. Similarly, Gottlieb created his own firm after he stopped working for Merlin, founding Visium Asset Management. The company had an initial capital of $300 million and quickly grew $2.5 billion. The company survived the 2008 financial crisis, and Gottlieb managed to grow Visium to an $8 billion hedge fund, having offices in San Francisco, London, and New York, and close to 200 employees.
Despite its success, Visium ended in 2016, when it came under fire, three executives being accused of mismarking and insider trading. The public destruction of the company went on for 2 years, with more charges being brought against it. Gottlieb however, never had charges brought up against him, and he was cleared of any wrongdoing. He maintained his role as CEO and continued to wind down the company.
While still winding down Visium, Gottlieb already launched his new venture, Altium Capital – a hedge fund that should provide a fresh start for Jacob Gottlieb. The company’s first investment was a stake in Oramed Pharmaceuticals Inc., which should come as no surprise, given Gottlieb’s history with healthcare investments. As the two successful entrepreneurs and former colleagues, Weisbrod and Gottlieb, are working from the same office, the healthcare industry should expect to see new opportunities as well as exciting changes in the future.