State Street Global Alliance has acquired a minority interest in Sectoral Asset Management (Sectoral), an institutional investment management firm focused on the healthcare sector.
Sectoral specializes in managing global equity portfolios in the worldwide healthcare and pharmaceutical/biotechnology sectors. In addition to separately managed institutional accounts, Sectoral manages healthcare mutual funds on behalf of US and global clients.
“The healthcare sector is one of rapid growth, and the addition of Sectoral, with its vast expertise and outstanding track record, is an important addition to our global portfolio,” says Jared Chase, chairman of State Street Global Alliance.
“This milestone is significant for our company, and with Global Alliance as a partner the stage is set for further development, in particular, in the North American institutional market,” claims Jerome Pfund, CEO of Sectoral.
Founded in 2000, Sectoral Asset Management is a registered investment advisor in the United States and Canada.