Moves: Former Millennium executive Zaino launches Keystone Capital, eyes biotech

RegenETP,

10/08/2020 13:00

BOSTON, Aug 10 (Reuters) - Investor Fredric Zaino, who spent
15 years at hedge fund Millennium Management, has launched his
own firm and plans to invest in micro-, small- and mid-cap
public and private companies focusing on biotech, real estate
and consumer products.
    Keystone Capital Partners has already made investments with
biotechnolgy companies PolarityTE Inc  PTE.O  and Vaccinex Inc
 VCNX.O  and expects to make another seven to 10 investments
this year, Zaino said.
    The company plans to invest roughly $50 million and is
currently not planning to try and raise funds from outside
investors. The New York-based firm is being led by Zaino and
three senior colleagues.
    Zaino, who specialized on the biotech/med tech sector at one
of the industry's biggest hedge funds Millennium, said he plans
to help finance select biotechs that need capital for new
trials, adding that the sector will likely be more robust than
the retail, restaurants and travel sectors. 
    "People are worried about things like COVID, but the one
sector that would have a tailwind is biotech."
    

 (Reporting by Svea Herbst-Bayliss, Editing by Sherry
Jacob-Phillips)
 ((svea.herbst@thomsonreuters.com; +617 856 4331; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))