After parting ways several years ago, no one thought that Stuart Weisbrod and Jacob Gottlieb would share one roof ever again. The duos are titans of healthcare investment who worked together at Merlin BioMed Group before venturing in different ways. After spending nearly two decades apart, the two investment moguls are now sharing offices, and there are reports that they are collaborating on various projects.
Here’s how Weisbrod and Jacob Gottlieb met
Jacob Gottlieb was working at Merlin BioMed Group in which Weisbrod was a co-founder. In the wake of the new millennium, Weisbrod needed experienced personnel to help him in running the company that was facing stiff competition. Merlin recruited Jacob Gottlieb as their portfolio who proved to be an invaluable asset for the company.
While working for Merlin BioMed Group, Jacob helped the company to attain more than hundred percent return from their investments in the wake of the biotechnological revolution in 1999 and 2000. Through his efforts, Merlin BioMed Group managed to attract prominent clients that include high-net-worth individuals, pension funds and family offices. Even with all the success, Merlin BioMed Group closed shop in 2007 and returned funds to investors.
After closing down Merlin BioMed Group, Weisbrod went on to establish another investment firm with similar goals as the Merlin. The name of the new firm is Iguana HealthCare Partners. The firm was created with a focus on the public traded companies with portfolios in biotechnology, pharmaceutical, diagnostic, healthcare information, and medical device companies.
Similarly, after quitting his job at Merlin, Jacob went on to establish his investment firm known as Visium Asset management. Jacob’s new firm started with an initial capital of $300 million, which quickly grew to more than $2.5 billion by 2008. Jacob successfully led Visium through the 2008 financial crisis and grew the company to an $8 billion hedge fund. It is reported that Visium Asset Management currently employs more than 200 employees and they have offices in San Francisco, London and Newyork.
Unfortunately, Visium Asset Management came to an abrupt halt in 2016 when an employee tipped the FBI and SEC of an insider mismarking and trading. The incident triggered an investigation by the SEC and FBI on former employees. Gottlieb has been vindicated of any wrongdoing, and he continues to serve as the company’s CEO, helping to wind down the company.