Perella Weinberg Partners has hired Tōkum Capital Management’s investment team and will invest $75 million in its healthcare strategies.
Emile Westergaard, who founded the hedge fund three years ago, will join the boutique investment bank as a partner. Terms of the deal were not disclosed.
Perella Weinberg will pour approximately $75 million into its new team’s coffers. Currently, Tōkum, which manages global healthcare long/short equity strategies, manages just $25 million.
“We are continuing to execute on our plan to grow the asset management business by identifying exceptional investment talent to augment our diversified suite of alternative investment strategies,” Terry Meguid, head of asset management at Perella Weinberg, said. “The combination of the strong investment track record of Emile and his team, their sector-specific approach and our highly regarded platform will enhance the significant ‘investment edge’ we provide our investors.”
Before founding Tōkum, Westergaard managed a healthcare portfolio at Amaranth Advisors and medical technology and life sciences investments at Pequot Capital Management.