The firm plans to offer a long/short equity strategy investing globally across all health care sectors and market capitalizations in early 2013.
Scott Kay is the portfolio manager for the team. In addition to 20 years in the health care industry, Kay was a founding partner at Partner Fund Management LP, where he was therapeutic sector head. Previously he was a senior health care analyst at Andor Capital Management LLC and at Bank America Securities. Earlier in his career he held various roles in marketing, sales and operations at Pfizer.
Also joining the team is Chris Zellner, who will be responsible for operations and business development. He brings to the team two decades of global markets and investment banking experience with Bank of America Merrill Lynch, Lehman Brothers and Morgan Stanley, among others.
Two senior analysts, both of whom have previously worked with Kay, will round out the team.
“This new team adds an important and exciting dimension to Forward’s investment capabilities. Much like the technology sector, health care is a fast-growing, rapidly changing industry that is experiencing a variety of disruptions. For managers who understand the industry’s dynamics, this translates into a multitude of long and short investment opportunities,” said Alan Reid, chief executive of Forward.