HARRY E. RUSSELL
600 Harbor Blvd, Unit 951, Weehawken, NJ 07086 ? (m) 646-460-1258
firstname.lastname@example.org ? www.her4consulting.com
14 years of experience in research, investing and consulting in the life sciences. Extensive direct investing experience and equity valuation skills in the small capitalization medical technology space.
o Successful multi-strategy healthcare investor across multiple asset classes in both public and private companies with strong track record of investment profits and navigating difficult markets.
o Broad expertise across biomedical technologies having a strong return profile with over a hundred direct investments as either the lead investor or as a consultant to the lead investors.
o Strong working knowledge of volatility management, derivatives, hedging and arbitrage strategies.
o Extensive resource network of financial, medical and academic professionals.
o Experience investing in multiple sub-sectors of medical technologies including medical devices, specialty pharma, biotechnology, drug delivery and diagnostics.
HER4 Consulting Weehawken, NJ
2003-Present Founder, Principal Consultant
Life sciences focused consulting company launched in 2003 which provides hedge funds, broker-dealers and public/private sector companies with research reports, valuations, collateral assessments and portfolio management advisory. Accomplished this through sourcing and due diligence on multiple private and public companies to facilitate deal generation. A few representative accounts are below: (For more detail on my research, projects and performance; please reference www.her4consulting.com.)
o The Williams Capital Group, 2010-Present
A broker-dealer and investment bank expanding its equity research capabilities to bolster client service.
• Responsible for building a biotechnology universe indicative of existing client base of Williams including large pension fund managers, fund of funds and mutual funds.
• Identified GILD, CELG and AMGN as viable candidates and initiated research coverage in December.
• Conducting extensive valuation project work on small capitalization life sciences companies.
o Northeast Securities, 2009-2010
A broker-dealer expanding out its healthcare capital markets’ abilities and equity research.
• Spearheaded a start-up boutique capital markets group in small capitalization healthcare.
• Conducted due diligence on multiple potential investment banking clients until passing securities exams and becoming a registered research analyst in 2010. Covered AMLN, APRI and multiple private companies.
• Helped drive a start-up capital markets group to $300,000 in advisory revenue over the first year.
o Red Chip Review, 2008-2009
An independent research and investor relations organization that follows small cap companies.
• Published several investor relations/independent research reports for Red Chip clients in several sectors with a concentration in the life sciences.
• Responsible for continuous dialogue with client managements and evaluating existing and potential clients closely to drive ongoing business revenue.
o Imperium Partners Group, 2005-2010
An alternative asset manager that provided structured loans to tech and biotech companies.
• Launched an asset based lending fund with several ex-members of The Palladin Group in 2005.
• Responsible for sourcing new deals and managing existing positions in the life sciences which comprised over 50% of the fund’s $40M in peak assets.
• Negotiated multiple restructurings of portfolio positions as valuations became compromised. Garnered average returns of 10% in both 2008 and 2009 during a challenging credit environment.
o Hildene Capital Management, 2007-2008
Hedge fund which finds value in distressed assets on an absolute and relative basis that has grown AUM from $10M to $300M since inception with annual performance of over 30%.
• Started a structured products hedge fund in 2007 looking at securitizations in RMBS, CMBS, CLOs and CBOs.
• Provided introductions to my contacts which generated a material portion of fund’s seed capital.
• Marketed to large investors such as the Starr Foundation and the Blackstone Group.
o Palladin Opportunity Fund, 2003-2006
Venture capital fund that invested in very early stage healthcare and technology companies.
• Continued to manage the venture capital fund that I launched in 1999 through its liquidation in 2006.
• Conducted restructurings, attended shareholder proxy meetings and monitored illiquid positions to maximize value for investors.
o Robert R. Meredith Asset Management, 2004-2005
Asset management firm that predominantly ran fixed-income portfolios which was expanding business into equities.
• Actively managed a $10M value portfolio of 40 equities in multiple sectors and added small capitalization life sciences names to add alpha to an overall conservative strategy.
• Outperformed the S&P 500 by 5% over the management period driven by strong 4th quarter of 2004 performance of over 10%.
o Conus Partners Fund, 2003-2004
Multi-strategy asset manager which used various asset classes to capitalize on value discrepancies.
• Recruited to build out the life sciences exposure of a long/short fund with over $100M AUM.
• Assessed long and short positions in biotechnology, drug delivery and specialty pharma. Contributed to returns of over 30% within the projected timeline.
The Palladin Group Maplewood, NJ
1998-2004 Managing Director, Senior Healthcare Analyst/Assistant PM 2001-2004
Director, Senior Healthcare Analyst/Assistant PM 2000-2001
Life Sciences Analyst/Direct Investment 1998-2000
Multi-strategy group of funds with peak assets of over $800M that concentrated on the protection of credit coupled with the returns of equity. Strategies included domestic and international convertible arbitrage, direct investing (Reg. D) and venture capital. Asset allocation in general was as follows; 25% in technology, 25% in healthcare, 25% in communications and media and the remaining 25% of the funds were deployed in short and long term opportunities or special situations. Our largest investor with over 75% of AUM was Deutsche Bank.
o Direct Investing (The Palladin Halifax Fund - $260M of peak assets)
Fund utilized various customized structures ranging from straight common equity to senior secured debt with an average holding period of 30 months and an average investment size of $5-15M.
• Oversaw all life sciences positions in the fund as a member of the investment committee.
• Mined companies for strong fundamentals where our investment would be a meaningful catalyst, structured an investment vehicle which offered protection and used the trading of the equity to remove principal risk opportunistically over time.
• Structured 55 deals in multiple sectors within six years for a total of $225M of invested capital.
• Managed the 35% of the fund that was in the healthcare sector (biotech, devices and specialty pharma). The overall return of the fund averaged 11% annually with a sharpe ratio of 2.6.
o Convertible Arb./Multi-Strat. (The Palladin Partners Fund - $100M in peak assets)
Fund was comprised of 50% high delta/low premium convertible arbitrage and 50% opportunistic multi-strategy with a high turnover rate and a wide variety of investment sizes.
• Examined and executed on credit based arbitrage opportunities in the convertible bond market, binary events such as medical panel meetings, merger arbitrage and capital structure arbitrage.
• Advised on the healthcare positions in the fund which on average comprised about 25% and warranted credit and equity analysis and portfolio and volatility management.
• Generated alpha from the life sciences portion in a conservative fund which contributed to an average annual return of 9% and a sharpe ratio of 1.7.
o Venture Capital (The Palladin Opportunity Fund - $30M in peak assets)
Started fund that captured the multiple private and illiquid public investment opportunities in the technology and biotechnology sectors.
• Managed 10 life sciences positions for a total of $9M of invested capital.
• Five private positions went public (GTOP, TELK, ALTU, SGMO and CPHD) and generated substantial returns.
• Monetized this $9M investment for an overall yield of $20M or a 220% return.
• Managed the team that restructured our private positions, conducted an orderly exit of our unlocked public positions and provided financial and operations advisory to company managements.
Banque Paribas New York, NY 1998 Associate, High Yield Investment Banking
• Completed multiple pitch books, analysis, modeling and internal presentations for senior bankers and sales people.
Merrill Lynch Florham Park, NJ
1997 Financial Consultant Intern
• Assisted financial consultants with their day to day activities and conducted customized projects.
1989-1992 Department of Surgery, Newark Beth Israel Medical Center Newark, NJ
• Treatment of acute vascular occlusions with intra-arterial Urokinase (Am J Surg) (1990)
• Endothelial cell adaptation to chronic thrombosis (Am J Surg) (1997)
• Worked with Radiologist Dr. Rick Shoenfeld and under Dr. Victor Parsonnet in the animal lab on evidence for the above cited papers. Conducted canine jugular vein extraction to experiment on comparing forward vein/arterial endothelial cell growth post thrombus removal using either angioplasty or the drug Urokinase.
• Internship continued each summer throughout college to supplement my degree in biomedical engineering.
1998 Fairleigh Dickinson University Florham Park, NJ
MBA, Finance/Life Sciences Conc.
1993 Rensselaer Polytechnic Institute Troy, NY
BS, Biomedical Engineering/Mechanical Conc.
FINRA Registrations Series 7, 63, 86 and 87 Exams
(Registered Research Analyst)
For examples of my prior work and track record, please go to www.her4consulting.com