Two veterans of the health care investing world — Art Cohen and Joe Healey — are planning to step back and sell their hedge fund to the fast-growing private equity firm Catalio Capital Management.
Cohen and Healey’s firm, HealthCor Management, will be absorbed by Catalio in what three people with knowledge of the deal described as mainly a stock transaction. The deal is expected to close at the start of 2023.
Cohen and Healey started HealthCor Management in 2005, after working at firms like Tiger Global Management and S.A.C. Capital Advisors. At its peak, HealthCor managed around $3.5 billion.
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