Cormorant Asset Management provides investment advice to hedge funds, private equity funds, and a separately managed account. The firm's hedge fund aims for high returns with low market correlation, primarily investing in healthcare and life science stocks. The private equity funds focus on long-term capital appreciation by investing in innovative biotech and life science companies. Cormorant does not tailor its advisory services to the individual needs of investors in the Advisory Clients and does not accept Investor imposed investment restrictions.
Fee Structure
Cormorant Asset Management manages investments for hedge funds and private equity funds, charging management fees and performance-based compensation. The hedge fund pays a monthly management fee (2.0% or 1.5% annualized) and an annual performance allocation (20.0% or 17.5% of net appreciation). The private equity funds pay a quarterly management fee (1.0% or 2.0% annualized) and may pay carried interest distributions. The firm also manages a separately managed account with an asset-based monthly management fee and an annual performance-based fee.