Overview
Who we Are
Tamarack Advisers, LP (referred to as “we,” “our,” “us,” or “Tamarack Advisers”) filed for registration
as an investment advisor in March of 2016. Tamarack Advisers succeeded Tamarack Capital
Management, LLC which registered as an investment advisor in May 2007. Mr. Ferayorni held the
majority interest in Tamarack Capital Management, LLC and was the sole control person of that entity.
The general partner of Tamarack Advisers is Tamarack Capital GP, LLC, which is wholly owned by
Justin Ferayorni, who is also a limited partner.
Services We Offer
We provide investment services to Tamarack Global Healthcare Fund, LP, an investment limited
partnership (the “Onshore Fund”), Tamarack Global Healthcare Offshore Fund, Ltd. (the “Offshore
Fund”), and Tamarack Global Healthcare Fund QP, L.P. (referred to as the “Fund”). We expect that the
Offshore Fund will be mostly invested in the Onshore Fund, but we have the authority to make
investments for the Offshore Fund directly. In addition, we manage assets for clients who are not
invested in the Funds (referred to as “you” or “client”). Tamarack Capital Management, LLC (“TCM")
acts as the General Partner to the Onshore Fund, and Tamarack Global Healthcare Fund QP, L.P. Justin
Ferayorni act as one of the Directors of the Offshore Fund.
For the Funds, our investments are tailored to comply with the investment guidelines disclosed in the
offering materials for the Funds. Each potential investor
in the Funds receives a complete set of offering
materials prior to investing in the Funds.
For Tamarack Global Healthcare Fund, LP, Tamarack Global Healthcare Offshore Fund, Ltd., and
Tamarack Global Healthcare Fund QP, L.P. (the “Healthcare Funds”), we provide investment
management in a long-short strategy that is focused on the healthcare sector, investing in equities and
derivates listed on an exchange or exchanges in the United States. We primarily use fundamental,
“bottom-up” research techniques in selecting securities, focusing on, among other things, growth in
earnings and margins, product and industry positioning, positive cash flows and strong management. We
may also consider “macroeconomic” factors in determining the appropriateness of the potential
investments for the partnership. We invest (both directly and through derivative securities such as
options) primarily in securities that are publicly-traded or for which it believes an institutional market
exists.
We may manage money for separately managed accounts that are not pooled investment vehicles. In that
case, the investment strategy employed will match that of the Healthcare Funds. Separate account clients
may impose restrictions on the types of investments that we make on their behalf.
Assets Under Management
As of December 31, 2022, we have $317.0 million in discretionary assets under management. We did not
manage assets on a non-discretionary basis.