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| ==Edelman Family Foundation== | ==Edelman Family Foundation== | ||
| He established the Edelman Family Foundation, dedicated to supporting a range of initiatives, from academic, research, and clinical programs to fact-based reporting, grassroots services, and legal/judicial reforms.<ref>{{cite web |title=Edelman Family Foundation |url=https://www.edelmanfamilyfoundation.org/ |website=Edelman Family Foundation |access-date=13 March 2024}}</ref> The foundation has contributed to a number of organizations and nonprofits including ], ], ], ], ], ], ], ], and ].<ref name="propublica" /> | |||
| ⚫ | In 2022, his foundation, the |
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| ⚫ | In 2022, his foundation, the Edelman Family Foundation, was the primary funder enabling the creation of the advocacy group, ], that opposes ] education in public schools and ] for minors. On its IRS filing, the Foundation characterized this donation as "to provide support to protect healthcare from a radical, divisive, and discriminatory ideology."<ref name="josephedelmantransfunding">{{cite web |last=Chudy |first=Emily |date=30 October 2023 |title=Billionaire Joseph Edelman accused of ‘quietly financing’ America’s anti-trans movement |url=https://www.thepinknews.com/2023/10/30/billionaire-joseph-edelman-financing-anti-trans-movement/ |accessdate=February 8, 2024 |website=]}}</ref><ref name="propublica">{{cite web |last1=Roberts |first1=Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon |title=Edelman Fam Foundation, Full Filing - Nonprofit Explorer |url=https://projects.propublica.org/nonprofits/organizations/376624335/202341359349103194/full |website=ProPublica |access-date=6 February 2024 |language=en |date=9 May 2013}}</ref> | ||
| ==References== | ==References== | ||
Revision as of 15:11, 13 March 2024
American hedge fund manager (born 1955)| Joseph Edelman | |
|---|---|
| Born | 1955 (age 69–70) |
| Alma mater | University of California, San Diego New York University |
| Occupation | Hedge fund manager |
| Children | 2 |
| Parent(s) | Isidore Edelman Florence Edelman |
Joseph Edelman (born 1955) is an American billionaire hedge fund manager. In 1999 he founded Perceptive Advisors, a New York City-based hedge fund, and he continues to manage its portfolio.
Early life and education
Edelman was born to a Jewish family. His father, Isidore Edelman, was a scientist and a professor emeritus of biochemistry and molecular biophysics at Columbia's College of Physicians and Surgeons. Edelman was the third of four children and grew up in San Francisco.
Edelman graduated magna cum laude with a degree in Psychology from the University of California, San Diego in 1978. Subsequently, he enrolled in graduate studies in pharmacology but left the program upon realizing that he sought a different career path than that of his father's.
Drawn to the finance sector, he relocated to New York City, where he obtained his MBA from New York University's Stern School of Business in 1988. To support himself during his studies, he worked in accounting, including his role as assistant comptroller for the Actors' Equity Association.
Career
Edelman began his career in 1987 as a biotechnology analyst at brokerage Wall Street Labe, Simpson & Company before moving to Prudential Securities as senior biotech analyst in 1990. In 1994, Edelman joined Paramount Capital Asset Management, running The Aries Funds until 1998. He joined First New York Securities in February 1999, a proprietary trading firm that allocated $6 million for him to manage an account.
In July 1999, Edelman founded Perceptive Advisors, a hedge fund firm focused on identifying and investing in promising technologies and innovations in the field of biotechnology. The firm began with $6 million in assets and grew substantially to $4.1 billion by 2018. By 2018, its flagship hedge fund, the Perceptive Life Sciences Fund, had delivered annualized gains of 30 percent net of fees since its inception.
Edelman's firm’s assets further grew to $8 billion in April 2023 and $10 billion in July that year. In addition to Perceptive Life Sciences, he has invested in small and mid-cap biotech firms such as CymaBay Therapeutics and Cerevel Therapeutics.
Edelman has played a significant role in the establishment of ARYA Sciences Acquisition Corp I, II, III, IV, and V. The special purpose acquisition companies (SPACs) were created to facilitate mergers, acquisitions, and public listings for companies in the biotechnology, pharmaceutical, and healthcare industries.
Edelman serves on the board of trustees at Brown University and the boards of directors at the New York Genome Center, Athira Pharma, and Xontogeny, a support firm for early-stage life science companies.
Edelman Family Foundation
He established the Edelman Family Foundation, dedicated to supporting a range of initiatives, from academic, research, and clinical programs to fact-based reporting, grassroots services, and legal/judicial reforms. The foundation has contributed to a number of organizations and nonprofits including American Jewish Committee, Brown University, Cato Institute, Foundation for Individual Rights and Expression, Manhattan Institute for Policy Research, PragerU, Ralston College, Shoes That Fit, and Team Rubicon.
In 2022, his foundation, the Edelman Family Foundation, was the primary funder enabling the creation of the advocacy group, Do No Harm, that opposes anti-racism education in public schools and gender-affirming care for minors. On its IRS filing, the Foundation characterized this donation as "to provide support to protect healthcare from a radical, divisive, and discriminatory ideology."
References
- ^ "Joseph Edelman". Forbes. Retrieved March 6, 2018.
- "Joseph Edelman, CEO of Perceptive Advisors and biotech analyst, remember's his father's troubles during the Red Scare". National Museum of American Jewish History.
1:58 I was very aware of being Jewish
- ^ Crowe, Portia. "A hedge fund manager you've never heard of made $300 million last year". Business Insider. Archived from the original on August 17, 2018. Retrieved 17 August 2018.
- Pearce, Jeremy (December 2, 2004). "Isidore Edelman, 84, Columbia Scientist Who Led Genome Center, Dies". New York Times.
- ^ "The 41% Man". Institutional Investor. 13 August 2018. Retrieved 11 March 2024.
- ^ Vardi, Nathan. "A Sixth Sense For Biotech Has Made Joe Edelman A Hedge Fund Star". Forbes. Retrieved 11 March 2024.
- Roche, Julia La. "This hedge fund crushed the competition in 2015". Business Insider. Retrieved 11 March 2024.
- "UC San Diego Alumnus Joseph Edelman Pledges $400,000 to Help Students Facing Mental Health Challenge". today.ucsd.edu. Retrieved 11 March 2024.
- ^ "Billionaire Joseph Edelman Snaps Up These 2 Biotech Stocks — Here's Why You Should Follow". Yahoo Finance. 26 April 2023. Retrieved 13 March 2024.
- "OC's Wealthiest 2023: Joseph Edelman". Orange County Business Journal. 25 July 2023. Retrieved 13 March 2024.
- "Joseph Edelman: Positions, Relations and Network - MarketScreener". www.marketscreener.com. Retrieved 11 March 2024.
- ^ "Cerevel Therapeutics and Arya Sciences Acquisition Corp II Announce Business Combination, Creating a Publicly Listed Leader in Neuroscience Drug Development - Cerevel Therapeutics". www.cerevel.com. 30 July 2020. Retrieved 11 March 2024.
- "Perceptive Keeps SPAC Frenzy Going". Institutional Investor. 12 February 2021. Retrieved 11 March 2024.
- "Joseph Edelman". Perceptive Advisors. Retrieved 11 March 2024.
- "Joseph E. Edelman". Corporation | Brown University. Retrieved 11 March 2024.
- "Who We Are - Xontogeny". Retrieved 11 March 2024.
- "Edelman Family Foundation". Edelman Family Foundation. Retrieved 13 March 2024.
- ^ Roberts, Andrea Suozzo, Alec Glassford, Ash Ngu, Brandon (9 May 2013). "Edelman Fam Foundation, Full Filing - Nonprofit Explorer". ProPublica. Retrieved 6 February 2024.
{{cite web}}: CS1 maint: multiple names: authors list (link) - Chudy, Emily (30 October 2023). "Billionaire Joseph Edelman accused of 'quietly financing' America's anti-trans movement". Pink News. Retrieved February 8, 2024.