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Deerfield Management Opts For More Private Investment And A New Public Face

Deerfield Management, the $3.5 billion health care hedge fund, is aggressively expanding its investments in private life sciences companies. As many VCs continue to struggle raising new funds Deerfield hopes its shift, combined with a flexible, research-driven approach to investing and a new involvement in the civic and academic activities shaping the sector, will secure its position as a top health care financier.

The oft-noted inability of life sciences VCs to raise the sums they once did is not just a threat to the sector, but also an opportunity. That’s the view of Deerfield Management, which has set its sights on becoming the top health care hedge fund.

In pursuit of this aim, Deerfield has hired Jonathan Leff from private equity firm Warburg Pincus LLC to create a full-fledged private-investment capability. Leff is also tasked with being Deerfield’s public face in the realms of government policy and academia

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