BVF Partners L.P. is an asset management firm that focuses on investments in biotechnology companies. They manage money for private investment funds and separately managed accounts. BVF generally invests in marketable securities of biotechnology companies, with a focus on companies with market capitalizations between $50 million and $3 billion, but may invest in companies of any size. BVF may also invest in unregistered securities of public and private biotechnology companies.
Fee Structure
BVF Partners L.P. manages investments for private investment funds and separately managed accounts.
For the BVF Funds, BVF generally receives a management fee at an annual rate of 1% or 1.5% of the related assets under management. For Single Investor Funds and Managed Accounts, the management fee is negotiated with the investor and account owners.
BVF also receives a performance-based allocation or fee from the BVF Funds, Single Investor Funds, and Managed Accounts derived from the net profits of each investor's investment. Performance-based allocations or fees generally equal 20% or 25% per annum of net profits in excess of a "high water mark."