Let’s get serious for a second: You all love Boyz II Men. Maybe you’re not a die-hard fan, maybe you don’t have all nine of their albums, or lip sync “Motown Philly” in your bathroom mirror every night before bed, but at the very least, you can admit that every time they had a guest spot on Fresh Prince (the episode when they sang at Nicky’s christening obviously being the best), you got that warm, tingly feeling inside, and couldn’t help but smile. Which is why you’re not going to pretend not to care when we tell you the following: Boyz II Men’s longtime producer, Dennis Ross, is launching his own hedge fund this summer.
PBGB, a long/short fund, is hoping to have $20 million in initial capital, and will focus on investments in US technology and biotech healthcare.
“The best opportunities are going to be in technology, as the frequency of innovation has been replaced with the content-driven model,” Ross says. “We see short opportunities in the geriatric pharmaceutical space as corporate, government and global consolidation tightens margins for companies with only one horse in the race.”
“We like Apple and BEA Systems, and think benchmark biotechnology companies such as Amgen and Genentech will continue to develop innovative therapeutics, but not price appreciation,” says Ross, who has also worked with pop idols Michael Jackson and Usher. “We also believe that the new Clinton Global Initiative has quietly provided short opportunities for healthcare services in the geriatric space, such as Omnicare.”
Ross, who has served as the director of institutional trading for the Malachi Group and as director of equity research and trading for an Atlanta hedge fund, and believes without question that the “One Sweet Day” collaboration with Mariah Carey was what put B2M on the map, thinks his background in music uniquely qualifies him for his upcoming venture. “The non-linear, volatile nature of a great musical composition is very similar to security price action,” he told FINalternatives today. “Having this base understanding can greatly assist in accomplishing inerratic portfolio design.”
(BTW: We looked it up: 'inerratic' is, in fact, a word).
Former Boyz II Men Producer To Launch Tech-Focused Hedge Fund [FINalternatives]