H&Q Capital Management

H&Q Capital Management (now known as Tekla Capital Management and part of abrdn) is a specialized investment management firm focused exclusively on the healthcare and life sciences sectors. Founded in 1982 as the healthcare investment arm of the investment bank Hambrecht & Quist, the firm is best known for managing long-standing closed-end funds such as Healthcare Investors (HQH) and Life Sciences Investors (HQL). The firm employs a team of professionals with advanced degrees in medicine and science to conduct deep fundamental research into biotechnology, pharmaceutical, and medical device companies. In 2023, the management contracts for the firm's funds were acquired by the global investment company abrdn, though the legacy of H&Q's specialized investment approach continues to influence the healthcare venture and public equity landscape.