Form ADV: 71.7% AUM Rise to $1.48B for Fairmount Funds Management

August 23, 2023

Fairmount Funds Management LLC, founded in 2016 by Peter Harwin and Tomas Kiselak, specializes in healthcare and life sciences investments. The firm manages various private investment pools including Fairmount Healthcare Funds. 

Between July 2022 and August 2023, the Form ADV filings show key changes in the firm's metrics

Key Highlights 

Fairmont Funds Managements' total assets under management (AUM) surged from $862.5M to $1.48B, a 71.7% increase. The total number of accounts declined from 7 to 5, while the employee count rose from 9 to 10.

Private Funds

Added/Removed

The firm has recently made changes to its private fund portfolio.

Two funds were removed, including Fairmount SPV II LLC with a current gross asset value of $440K and Fairmount SPV I LLC with a current gross asset value of $1.58M.

In contrast, one new fund was added to the portfolio: Fairmount Healthcare Co-Invest LP, which has a current gross asset value of $38.7M.

Modified

The firm disclosed several modifications for its remaining other funds.
Here's a summary of key changes for each of the Fairmount private funds:

Fairmount Healthcare Fund II LP

  • Gross Asset Value: Increased from $764.9M to $1.37B
  • No. of Beneficial Owners: Increased from 37 to 40
  • Percentage Owned by Related Persons: Increased from 1% to 5%
  • Custodians & Prime Brokers: Added U.S. Bank National Association as a new custodian

Fairmount Healthcare Fund LP

  • Gross Asset Value: Increased from $94.6M to $111M
  • Percentage Owned by Related Persons: Decreased from 9% to 7%
  • Custodians: Added US Bank National Association as a new custodian

Fairmount SPV III LLC

  • Gross Asset Value: Increased from $1.12M to $1.25M

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