Cormorant Asset Management, LP (Boston)

Cormorant Asset Management, LP is a large advisory firm based in Boston. It manages $2.14 billion of regulatory assets for 8 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdiction of Massachusetts.

Cormorant Asset Management provides portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Cormorant Asset Management: assets under management

The assets under management (AUM) of Cormorant Asset Management, LP is $2.14 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 16% since the beginning of its operation, and $1.7 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $2.14 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $267.7 million each.

Investments

The firm invests in exchange traded securities the most. They account for 87% of the total AUM. The second-largest asset type is non-exchange traded securities, which make up 9% of the firm’s portfolio. Investments in derivatives form 4% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cormorant Asset Management, LP for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Cormorant Asset Management serves?

The only and largest group of clients of Cormorant Asset Management is pooled investment vehicles with 7 clients and $2.01 billion of assets under management. Among the 7 most similar advisory firms, Cormorant Asset Management has the 4th highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $2.01 billion for 7 clients. 63% of the firm’s clients are foreign persons or businesses.

Cormorant Asset Management also advises several private funds. Namely, one hedge fund and two private equity funds. The minimum investment commitment required of non-related persons ranges from $1,000,000 to $5,000,000.

Careers at Cormorant Asset Management, LP

The company employs 7 people that are either part- or full-time employees. 43 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Bihua Chen	Managing member & chief executive officer	1 Mar 2013	75% - 100%	4540591
Edward J. Scollins	Member, chief financial officer & chief operating officer	1 Mar 2013	Other	6047942
Nebojsa Obradovic	Chief compliance officer	1 Jan 2016	Other	6602224
Llc Cormorant Asset Management Gp	General partner	1 Mar 2018	Other	46-2108927

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Bihua Chen	Managing member	1 Mar 2014	75% - 100%	4540591

Based in Boston

The principal office where Cormorant Asset Management, LP performs its advisory services is located at 200 Clarendon Street, Boston, MA 02116, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 857-702-0370 or by fax 617-507-5905. The normal business hours are 9:00am - 6:00pm on Monday - Friday.