Jensen Partners Q2 2021 Newsletter: Hiring Boom Kicks Into Overdrive for Alts Firms
More than 1,300 marketing professionals have moved into new roles so far this year
What started as a stream has turned into a torrent as the alternative investment industry kicks back into high gear.
Investment firms have now posted two straight quarters of record hiring, with Q2 in particular up by more than 40% over what we tracked during this time period last year. In total, we have tracked 1,315 marketing moves in the first half of the year, easily outpacing any previous two-quarter period. These hires are buoyed by a similar record jump in fundraising and fund launches as more firms ramp up their activities. While the threat of rising inflation is in the back of many investor's minds, most firms we have spoken to are taking a longer view and planning accordingly. This is good news for the thousands of marketing and IR professionals that either recently took time off to be with family or are now looking for a new challenge.
The marketing role itself has evolved significantly in recent months. While investor relationships and fundraising experience are still the two most important qualifications for a candidate, our conversations with hiring managers suggest that firms are also looking for marketers that can bring a unique set of skills to the table. The skill sets in highest demand include:
- Marketers with specialist knowledge about a niche investment strategy, particularly in the credit markets
- Marketers who have familiarity with ESG and sustainability, and are comfortable answering investor questions about a firm's alignment with industry best practices
- Marketers with on-the-ground experience in specific geographies, such as China, Japan, and South Korea
- Marketers who come from diverse backgrounds, and who are committed to building a diverse team
Very few marketers are likely to be able to check all these boxes, which is part of the reason why alts firms are hiring for multiple roles simultaneously. A product specialist may work alongside an ESG specialist, both of whom may meet regularly with the DEI committee and with their colleagues in APAC. We see this kind of segmentation as indicative of the marketing team of the future, with each individual responsible for a specific aspect of the marketing function. More to come on this trend in future newsletters.
As for Q2 itself, we recorded a total of 570 marketing moves, down by nearly 25% from the 745 hires in Q1 but up significantly from any previous Q2, including +41.44% compared to Q2 2020 representing an increase of 167 moves. The second and third quarters historically tend to be the quietest in terms of hiring activity, so for Q2 to easily surpass 500 moves (and with Q3 already off to a strong start) suggests that this will be the busiest year in the history of the alternative investment industry.
The biggest drivers of the hiring activity YTD appear to be Private Equity firms (194 moves YTD), Multi-Asset firms (186 moves), and Hedge Funds (116 moves). These were also the most active types of firms in Q2, although in a slightly different order, with Multi-Asset firms (153 moves) leading the way, followed by Private Equity firms (107 moves) and Hedge Funds (86 moves). Taken together, these three strategies account for more than a third (37.72%) of all hiring activity this year and offer a useful lens into industry trends and challenges.
As we've discussed in previous newsletters, one of the biggest trends (and challenges) for alts firms is the growing demand for action on diversity. In Q1, we noted that we were beginning to see signs of improvement when it comes to the hiring of racially and gender-diverse marketing professionals. This progress has continued into Q2. Consider that in Q1 we tracked 386 diverse moves (303 female candidates + 83 male BIPOC candidates), representing a little more than half (51.8%) of all marketing moves in the quarter. In Q2, we tracked 320 diverse moves (213 female candidates + 107 BIPOC candidates), bringing the diversity ratio up to 56.14%. The increase in BIPOC talent is especially encouraging, although there is clearly still a long way to go with Black hires accounting for just 3.33% of all moves in the quarter. We will continue to report on these trends and occasionally offer deep dives into our diversity data using our proprietary DiversityMetrics™ platform. If there is a specific data point you would like to see, please do not hesitate to ask.
In the meantime, extending our best wishes to all our clients, partners and friends for a healthy and happy second half of the year.
Here is a selection of recent articles and studies about hiring, marketing and fundraising in the alternative investment industry:
❖ Citywire Selector: Private equity goes on ESG recruitment drive
❖ Private Equity International: Black Women in Asset Management- 'You belong'
❖ Private Equity International: ILPA- A 'positive, not punitive' approach
❖ Private Equity International: Gender-lens investing- More than meets the eye?
❖ Private Equity International: Gender equality- Five ways private funds are making progress | Private Equity International
❖ Private Equity Wire: Capstone survey highlights growing ESG conviction among private equity LPs worldwide
❖ The Wall Street Journal: Private Equity Weighs Linking Manager Pay to ESG Performance
Here are a few of the most interesting data points from Q2:
❖ We tracked 570 marketing moves in Q2, a 23.49% decrease from Q1 2021 but a +41.79% from the 402 moves in Q4 2020, making it the sixth straight quarter that hiring activity has surpassed 400 moves.
❖ The biggest movers and shakers for Q2 included: Multi-Asset firms (153 moves), Private Equity firms (107 moves), and Hedge Funds (86 moves). These are also the three sectors that generated the most hiring activity YTD, although in a slightly different order with Private Equity firms (194 moves) leading the way, followed by Multi-Asset firms (186 moves), and Hedge Funds (116 moves).
❖ Only two sectors saw a jump in Q2 2021 when compared to Q1 2021: Private Fund Group (65 moves, or +30.0%), and Wealth Management (49 moves, or +4.26%). Private Fund Group also witnessed the biggest jump compared to Q2 2020, with a 441.67% increase from 24 moves. The remaining sectors, with the exception of FinTech/Venture Capital, which is a more niche sector, experienced a hiring slump, according to our data, including: Private Equity (107 moves or -44.85%), Real Estate (19 moves or -34.48%), Hedge Funds (86 moves or -25.86%), Credit (34 moves or -24.44%), and Multi-Asset (153 moves or -17.74%).
❖ When compared to Q2 2020, however, we observe a different trend. Private Equity, Multi-Asset, and Hedge Funds, which experienced a hiring slump when compared to Q1 2021, are the three sectors that saw an increase in hires when compared to Q2 2020. Specifically, Private Equity hiring increased by 143.18% (or +63 moves from Q2 2020), Multi-Asset by 128.36% (or +86 moves), and Hedge Funds by 65.38% (or +34 moves). Similarly, FinTech/Venture Capital and Wealth Management are the two sectors that experienced a boon in hiring compared to Q1, but Q2 2020 comparisons suggest a different scenario, with FinTech/Venture Capital experiencing a 70.00% decrease in the number of hires (or -7 moves) and Wealth Management -49.48% (or -48 moves).
❖ We continue to also track hiring activity in the more niche sectors of the alternative investment space (see 'New Categories' table). In this category, FinTech/Venture Capital had a strong second quarter with 3 moves (or +2 moves, an +200% increase). Unlike the first quarter, the Secondaries sector, which saw a 580% increase in Q1, experienced a slump in marketing hires with 28 moves (or -6 moves, a -17.65% decrease). However, when compared to Q2 2020, we observe that the Secondaries industry saw a 64.71% increase in hires (or +11 moves).
❖ Unlike Q1, in Q2 we observed a decline in marketing hires across all regions with the exception of MENA, which remained at 4 moves. Specifically, in the second quarter of 2021, APAC had 45 moves (or -22 moves, a -32.84% decrease), the UK had 120 moves (-42 moves, a -25.93% decrease), the rest of Europe had 56 moves (-16 moves, a -22.22% decrease), and NORAM had 344 moves (-93 moves, or a -21.28% decrease).
Data on Diversity
With diversity emerging as a top-of-mind issue for alternative investment firms in 2020, we take a deep dive using Jensen Partners’ newly launched DiversityMetrics(TM) data visualization technology to see how well the alternative investment industry is improving diversity among the ranks of marketers.
❖ In Q1, we tracked 386 diverse moves (303 female candidates + 83 male BIPOC candidates), representing a little more than half of all marketing moves in the quarter (51.8%). This is a positive trend compared to previous quarters, and a 20% increase from the diversity ratio of 43.2% we recorded for 2020 overall. In Q2, we tracked 320 diverse moves (213 female candidates and 107 BIPOC candidates), representing 56.14% of all marketing moves in the quarter.
❖ From a gender perspective, female moves in Q2 represent 37.37% of all hires, down from 40.67% we recorded for Q1 2021, but up from 27.54% in Q2 2020. We also observed that both female and male moves decreased in the second quarter. However, when compared to male moves, female moves decreased by -29.70% from Q1 2021, whereas male moves only increased by -19.23% from Q1 2021. Yet, when compared to Q2 2020, we observe that female moves increased by 108.82%; whereas, male moves increase by only 18.60%.
❖ In terms of racial ethnicity, we continue to see Caucasians make up the vast bulk of all marketing moves-- 79.47% in Q2 (78.3% in Q1 and 81.88% in Q2 2020), reversing the progress that has been made in Q1. In Q2, we also see a decline in marketing moves across all ethnicities, with the exception of Hispanic hires, which increased by 14.29% (or 8 moves, +1 from Q1). Unlike Q1, South Asian moves, which experienced the highest increase, saw a -53.33% decline in Q2 (or 30 moves, -16 from Q1). The decline in South Asian hires, is followed by Middle Eastern hires with 10 moves (or -6 moves, a -37.50% decline), Caucasian 454 moves (or -129 moves, a -22.13% decline), Black - 19 moves (or -4 moves, a -17.39% decline), and East Asian - 55 moves (or -6 moves, a -9.84% decline).
❖ In Q1, we noted that the number of Black marketing professionals hired as a percentage of all hires decreased by about 12% from the pre-protest period (Q4 2019--Q2 2020) to the post-protest period (Q3 2020-Q1 2021), with Black professionals remaining a minority across the alternative investment industry with just 3.1% of all hires in Q1 2021. In Q2, we observe a continuation of this negative trend with Black professionals representing only 3.33% of all hires, showing a very minimal improvement. Compared to Q2 2020, however, 3.33% representation suggests progress, as in Q2 2020 Black professionals represented only 2.23% of all hires.
❖ In terms of diversity hiring across strategies, we observed that 20.53% of all hires were non-Caucasian in Q2, down -5.4% from Q1. The following strategies had the highest number of non-Caucasian hires: Real Estate (6 or 31.58%, and no change from Q1), Private Equity (28 or 26.17%, and -39.13% from Q1), Multi-Asset (36 or 24.16%, and-14.29% from Q1), Fund of Funds (3 or 21.43%, and no change from Q1), and Credit (7 or 18.42%, and -12.50% from Q1).
See below for a partial selection of current mandates. Contact us at firstname.lastname@example.org to learn more about each search.
HIRING: $2B Private Debt Firm
ROLE: Principal, Private Capital Fundraising
LOCATION: San Francisco
DESCRIPTION: Our client is looking for a highly systematic, hardworking, and self-directing individual who is excited to work on the firm's Capital Markets team driving equity fundraising and transaction management. This person will serve as the backbone for equity fundraising, leading full fundraising campaign life cycles. The successful candidate will have a proven track record of working with institutional investors and renewable or clean energy experience is preferred.
HIRING: Global Private Fund Placement and Investment Advisory Firm
ROLE: Director or Partner, Fund Origination, North America
DESCRIPTION: Our client is looking for a candidate with 10+ years of financial markets experience, with at least 5 years in origination, capital raising, or project management, and prior experience at a placement agent preferred. The primary objective of this role will be to develop and maintain relationships with existing and emerging GPs in North America within the alternatives space. The successful candidate will have an excellent understanding of the GP landscape, knowledge of LPs and their investment priorities, and an appreciation of the capital-raising cycle.
HIRING: Global Private Fund Placement and Investment Advisory Firm
ROLE: Director or Partner, Distribution, North America
DESCRIPTION: Our client is looking for a candidate who will develop and maintain relationships with top institutions and consultants, understanding their investment needs and offering them products in alternatives. The successful candidate will have 10+ years of direct investment sales experience covering institutions and consultants. This role also requires at least 5 years of experience in placing alternative products such as private equity, infrastructure, real estate, private credit, venture capital, and natural resources.
HIRING: $8B Global Hedge Fund Manager
ROLE: Chief Marketing Officer
LOCATION: Houston or NY
DESCRIPTION: Our client is seeking to hire a Chief Marketing Officer to lead a team of approximately 15 global professionals with a dual focus on deepening current relationships and capital raising from new investors. Qualified candidates will have prior capital raising and/or client-facing experience covering a variety of investors along with superior investment acumen, spanning both distressed / special-situations credit and private equity. Successful candidates will be highly collaborative; team-orientated and possess the desire and aptitude for leadership, relationship management, and fundraising.
HIRING: $1B Private Equity Firm
ROLE: Analyst, Private Equity
Description: Our client is seeking candidates with a minimum of two years of investment banking and/or private equity experience at a top firm. The responsibilities for the role will include conducting company and industry due diligence, building financial models, material preparation for various meetings including investment committee meetings, and fundraising, marketing, and deal sourcing research.
HIRING: $14B Private Equity Firm
ROLE: Head of US
DESCRIPTION: Our client is seeking an experienced institutional salesperson to ensure AUM growth across North America. The successful candidate will have a proven track record of sourcing LPs across the universe of endowment foundations and institutions. Also, one of the AUM’s on the prior mandates has changed
HIRING: $22B Alternative Investment Manager
ROLE: Director, Client Relations – Product Manager
DESCRIPTION: Our client is seeking a Client Relations Product Manager to be a part of their Client Relations Group. The Product Manager will play a critical role in crafting product and strategy content as well as managing product launches, marketing activity and collateral production throughout the sales and service life cycle. The successful candidate will have the ability to function at a broad-based, strategic level while being capable of driving detailed, tactical execution. This position will report to the Head of Client Relations and is based in New York.
HIRING: $22B Alternative Investment Manager
ROLE: Vice President – CLO Credit Analyst
DESCRIPTION: Our client is looking for a CLO Credit Analyst to help analyze and invest in companies in the financial services and business service industries with 5 – 10 years of experience in high yield and leveraged loans. This position will report to the Head of Structured Credit and is based in the firm's New York City headquarters.
HIRING: $75B Infrastructure Investment Firm
ROLE: Senior VP, Credit Project Management
DESCRIPTION: Our client is searching for an experienced credit product specialist /project manager. The successful candidate will have a deep knowledge of private credit strategies and will have a track record of working conscientiously with the PMs internally and with the LPs externally. A knowledge of Infra debt would be a major plus.
HIRING: $15B Hedge Fund Manager
ROLE: Associate, Investor Relations / Marketing
DESCRIPTION: Our client is looking for a candidate with 2-5 years of experience within the financial markets space. This candidate will support the firm’s capital raising team with their fundraising efforts and be involved in multiple aspects of the investor relations process. This role will have a focus on personalized reporting for current investors and the preparation of custom responses for investors performing due diligence.
In Q1, we introduced the 'DEI Corner' where we spotlight diverse professionals who have either been promoted at their existing firm or joined a new firm in the alternative investment space.
At Jensen Partners we believe representation is power and will continue to highlight these moves to serve as an inspiration and an example of what true representation could look like in this industry.
Please note that the diversity of each marketing professional listed here was independently verified by our DiversityMetrics™ team.
Diverse Key Promotions
❖ Alexandra Bazarewski was named Partner with Rede Partners in June 2021. She joined the firm in 2017 from an undisclosed firm and is Head of Americas Coverage. Before that, she was with The Blackstone Group for six years. She is based in New York.
❖ Stephanie Bendar was promoted to Director, Investor Relations & Marketing, in April 2021 with Gryphon Investors. Based in San Francisco, she joined the firm in 2015 as a Marketing & Investor Relations Manager from Calibre One.
❖ Grace Coulom was named Head of Global Asset Allocation Product Management in April 2021 with Columbia Threadneedle Investments. She’s been with Columbia since 2012 after completing an internship with the firm. Most recently, she was a Director, Global Asset Allocation & Alternative Investments.
❖ Monica Chan, Managing Director and Head of China Client Business with BlackRock, replaced Bing Ji in May 2021 as Head of China Institutional Client Business. He stepped into his new role as General Manager of BlackRock CCBWealth Management. She joined the firm in 2008 as an Associate and is based in Hong Kong.
❖ Caki Guinee was promoted to Partner in May 2021 with Tailwind Capital. Guinee focuses on the firm’s investor relations and marketing efforts and leads Tailwind’s ESG initiatives. She joined Tailwind in 2014 after prior experience with Eaglevale Partner and Lazard Freres & Co.
❖ Chloe Kipling was promoted to Head of the UK and Ireland Institutional Business with Goldman Sachs Asset Management in May 2021. Kipling began her career with the firm in 2005 and was promoted to Managing Director in 2015.
❖ Rachel Lord was appointed Head of BlackRock’s APAC business, starting May 1, 2021. She is working in Hong Kong and sits as Chair and Head of BlackRock Asia Pacific. Lord was named Head of EMEA in 2017 and a member of the firm’s Global Executive Committee. She is chair of the EMEA Executive Committee and a Global Executive Sponsor of the Women's Initiative Network. She served as EMEA Head of iShares and Head of Global Clients, ETF, and Index Investments. She joined BlackRock in 2013 from Citigroup, where she served as Global Head of Corporate Equity Derivatives, following a 13-year tenure at Morgan Stanley.
❖ Sasha Mazhbits was named Head of USWA Alternatives Product Marketing in May 2021 with BlackRock in New York. She joined the firm in March 2020 as a VP from AllianceBernstein, where she was an Assistant Vice President and Multi-Asset and Alternatives Product Manager.
❖ Christen Paras was promoted to Managing Director with MiddleGround Capital in April 2021. She joined the firm as a Director and Head of Business Development & Investor Relations in 2019 from CoBe Capital, where she was a Senior Vice President and Head of Global Business Development. She is based in New York.
❖ Emad Rajaie was appointed Head of EMEA in June 2021 with Doubleline Capital. He joined the firm in 2019 to lead relationship management efforts in the Middle East and Africa and will now oversee efforts in Europe, including the UK and Ireland. He reports directly to Ron Redell. Before joining the firm in 2019, he was with PIMCO for nearly a decade. He is based in London.
❖ Meena Thever was named Partner with Bridge Investment Group in June 2021, where she has been a member of the Client Solutions Group for the last three years in New York. Previously, she was with BlackRock Alternative Specialists as a Director for two and half years.
Diverse Key Hires
❖ Erick Bronner joined Palladium Equity Partners as a Managing Director focused on Fundraising and Investor Relations in April 2021 in New York. He was with The Riverside Company for nearly a decade as Global Head of Fundraising and Investor Relations. Prior to Riverside, he was a founding partner with Mercury Capital Advisors. Before that, he was a Managing Director focused on Telecom Finance and Private Equity Fundraising with Merrill Lynch for over 12 years.
❖ Marielle Bush joined Octagon Credit Partners in June 2021 as Managing Director, Business Development in New York. She was previously at Brigade Capital Management as a Director, Marketing for nearly three years. Before Brigade, she was with Hutchin Hill Capital as a Director focused on Investor Relations & Business Development.
❖ Alvin Butler joined the secondaries team at Ares Management in June 2021 as a Principal in New York. He was previously at Landmark Partners for the last three years as a Director.
❖ Catherine Campbell joined Antin Infrastructure Partners in July 2021 as a Director from BlackRock where she was a Director and Lead Product Strategist for the firm’s Renewable Power business on the Real Assets platform. Campbell was at BlackRock for almost five years. She is based in New York.
❖ Myra Choo joined Secondary Advisory firm Mozaic Capital as a Director in Boston. Choo recently led the San Francisco office of MVision Private Equity Advisers, responsible for West Coast Investor Relations. In that role, she advised on over $2.5 billion of fundraisings. Before MVision, she served as an Investor Relations professional at Thomas H Lee Partners, focusing on the firm’s Asia-based investor relationships.
❖ Ann Dai joined Blue Owl Capital in July 2021 as Head of Investor Relations in New York. Most recently, she was with Apollo Global Management as a Principal and Investor Relations Manager for two years. Before that, she was with KBW in a research capacity.
❖ Natalia Fontecha joined Onex as a Managing Director on the firm’s Client and Product Solutions team in April 2021. Based in London, she recently left StepStone Group, where she was also a Managing Director for the last four years. Before that, she spent five years with Old Mutual Asset Management as a Senior Vice President focused on Global Distribution.
❖ Earl Hunt has been tapped by Apollo Global Management to co-lead the firm’s recently launched Credit Secondaries platform. Previously, he was a Partner with Goldman Sachs’s Relationship Management & Strategy team and joined that firm in 2015 as a Vice President from Citi, where he was a Director of Credit Sales.
❖ Juliette Kennelly re-joined Brevan Howard in June 2021 in London as Head of Client Service after three years with Coremont. Previously, she was with Brevan Howard for seven years, focused on Investor Relations.
❖ Sophia Lee left her role as Head of Investor Relations with Golden Gate Capital in June 2021. She joined the firm as an Associate in 2015 from J.P. Morgan and was appointed Head of Investor Relations in April of this year. She subsequently joined Dragoneer Investment Group in July 2021 as a Principal, Investor Relations and Business Development. She is based in San Francisco.
❖ Paget MacColl joined Blackstone Alternative Asset Management as Senior Managing Director and Global Head of Institutional Client Solutions in May 2021. Before this, MacColl was a Managing Director and Co-Head of the Americas Institutional Client Business at Goldman Sachs Asset Management.
❖ Emily Melchior is stepping down as Managing Director and Head of Investor Relations and chief of staff at New York City-based Searchlight Capital Partners to join Crosspoint Capital Partners LP in a similar capacity as the firm continues a rapid expansion.
❖ Jennie Park joined Briarcliffe Credit Partners in April 2021 as a Managing Director, Fundraising. She recently led business development and investor relations in North America for Vantage Infrastructure, a $5 billion infrastructure specialist. Before Vantage Infrastructure, Park served on the business development and investor relations teams at Apollo Global Management and Anchorage Capital. She also spent several years at Goldman Sachs in the Alternative Investments and Manager Selection (AIMS) group.
❖ Stephen Usher joined Lafayette Square, a minority-owned, impact-driven investment platform, as Head of Distribution in April 2021. Previously, he was a Partner with Standard General, where he led that firm’s business development efforts. Before that, he was a Founding Partner at Serengeti Asset Management, where he built out the firm’s credit trading platform and headed business development.
❖ Kenya Williams joined Oaktree Capital Management as a Managing Director and Real Estate Product Specialist in April 2021. She was previously at Uncomm Projects as a Managing Partner. She is based in Los Angeles.
A curated selection of Q2 marketing moves across the following strategies: Credit, Fund of Funds, Hedge Funds, Infrastructure, Multi-Asset, Private Fund Groups, Private Equity, Real Estate, Secondaries, and Wealth Management.
❖ Jan Albers joined Capital Four as Head of Client Relations (Germany & Australia). Albers is responsible for expanding the firm's footprint in Germany and Australia among institutional investors. Previously, he was at Nordea Investment Management, where he served as head of German institutional sales for 16 years.
❖ Chris Inifer joined a boutique credit firm, Alexander Funds Management, in June 2021 as Head of Distribution in Melbourne. He was previously at Allan Gray Australia as Head of Retail.
❖ T. Michael Johnson joined The Carlyle Group Global Credit Team as a Managing Director and Head of Investor Relations in May 2021. Based in New York, he was most recently with Pretium Partners until last September as a Partner and Head of Business Development for three years. Before that, he was a Managing Director and Head of U.S. Institutional Sales and Chief Product Specialist with Paulson & Co. for nine years.
❖ Elizabeth Kahl joined Owl Rock Capital in May 2021 as a Managing Director. Previously, she was with Brigade Capital Management, most recently as a Director, Investor Relations. She works out of New York.
❖ Adam Kennedy joined Monroe Capital in June 2021 as a Director, Marketing & Investor Relations in the firm's Los Angeles office. Previously, Kennedy was at DWS Group as a Regional Vice President for the past six years.
❖ Sean McCorry joined KKR Credit in April 2021 as Director in the client and partner group, where he is a member of the credit strategies team. McCorry will be responsible for business development and capital-raising activities in his new role, focusing on the firm's illiquid credit and private debt strategies. He joins after an 11-and-a-half-year spell at Goldman Sachs, where he was most recently a vice president in the alternative investments and manager selection group, again focusing primarily on private credit.
❖ Suraj Panjwani left Invesco in May 2021, where he was a Managing Director in Alts Consultant Relations in New York for the last three years. He started his new role with Varagon Capital Partners in early June and reports to Karen Holliday, the Head of Business Development.
❖ Jeffery Stammen joined Antares Capital in July 2021 as a Managing Director and Head of Investor Coverage. Previously, Stammen was at Barings as a Managing Director and Regional Sales Head for North American Business Development.
❖ Carl-JohanBrodowsky joined Brummer & Partners in June 2021 as a Partner and Global Co-Head of Investor Relations in Stockholm after four years with Keel Partners. He was previously with Brummer for four years before that.
❖ Raj Dutta joined Redhedge Asset Management in June 2021 as Head of Business Development. Previously, he was Head of Business Development and I.R. with LTS Asset Management for the past year. He works in London.
❖ Tim Fitch joined Portsea Asset Management as Partner and Head of Business Development in June 2021. Most recently, he was with Mariner Investment as a Managing Director. He is in London.
❖ Greg Habay joined Third Point in June 2021 as a Managing Director, Institutional Business Development and I.R., in New York. Previously, he was with AQR Capital Management for the last six and half years, most recently as a Managing Director, Institutional Business Development.
❖ Charlotte Hervouet joined event-driven hedge fund Sinclair Capital as a Partner and Head of Business Development in June 2021 in London. She was with North Asset Management for the last 18 years, most recently as Partner and Head of I.R. & Business Development.
❖ Henry Howell joined Nickel Digital Asset Management in June 2021 as Head of Business Development in London for Eisler Capital, where he was focused on Business Development for the last year. Before that, he was with Goldman Sachs for 16 years, most recently as a Managing Director and Global Head of Electronic Futures.
❖ Devki Paayal joined Kyma Capital in June 2021 as Head of Marketing & Investor Relations in London. Previously, she was at BTG Pactual for the past seven years.
❖ James Rous left Caius Capital in June 2021, where he has served as Head of I.R. and Marketing in London since 2017. His next role is TBD.
❖ Edward Rozell joined Aristotle Capital Management as SVP, Institutional Services, in June 2021. Based in Los Angeles, he was previously at Loop Capital Markets, where he spent nearly the last 12 years, most recently as Managing Director and Co-Head of Global Equity Division. He has held sales roles at firms such as M.R. Beal, Melvin & Co., and William Blair.
❖ Tara Skinner joined Oceanwood Capital Management in July 2021 as a Partner and Co-Head of Marketing. Based in London, she was most recently with Informed Portfolio Management as an Executive Director, Head of B.D. and U.K. Branch Manager for the last five years.
❖ Zachary Weiss joined Sound Point Capital Management in June 2021 as a Director of Marketing, where he focuses on North American investor coverage and fund distribution. He left Apollo Global Management in April 2021. He works in New York.
❖ Michael Wolfram joined BlueBay Asset Management in June 2021 as Head of Institutional Sales, Germany & Austria. Based in Munich, Wolfram reports to Viola Patock, Head of Northern Europe. He was most recently a Director for Germany, Austria & Switzerland at bfinance focused on business development and relationship management of its pension, insurer, church, and endowment clients based out of Munich.
❖ Jay Alexander joined Amundi in May 2021 as Senior Vice President and Head of U.S. Consultant Relations. Previously, he was with Aberdeen Standard for eight years as Senior Director, Consultant Relations. He is based in Minneapolis.
❖ Vikrant Arya joined Nuveen as a Managing Director, Global Consultant Relations, in July 2021 in New York from BlackRock. He was a Director of Defined Contribution Consultant Relations and Institutional Sales.
❖ Ian Bell joined Apollo Global Management in June 2021 as Partner and Head of Institutional Client & Product Solutions, APAC. He joined from Evercore, where he was Managing Director and Head of Private Funds Group, APAC for nearly seven years. He works in Hong Kong.
❖ Steven Billiet was named Head of Global Client Group, effective July 1, 2021, with BNP Paribas Asset Management. He was selected to replace Sandro Pierri, the firm's recently appointed CEO. Billiet has served as CEO for APAC and Head of APAC Distribution.
❖ Pamela Brylski joined the Institutional Client Business team with BlackRock as a Director in Miami. Previously, she was a Senior Vice President who leads a private wealth management team with Morgan Stanley for two and a half years.
❖ Brett Condron joined PIMCO in May 2021 as a Managing Director in the firm's U.S. Global Wealth Management group. He will report to Gregory Hall, Managing Director and Head of U.S. Global Wealth Management, and work with specialist teams across the firm's distribution, product strategy, and portfolio management groups. Hall was with Blackstone for over a decade, most recently as a Senior Managing Director and Global Head of Individual Investor Solutions for the firm's Alternative Asset Management (BAAM) division. Before Blackstone, he worked at Putnam Investments in the firm's Global Institutional Management group. He was responsible for business development and client relations in the United States.
❖ Craig Farr joined Apollo Global Management in May 2021 as a Senior Partner and Head of Capital Solutions, a newly created role. He will be spearheading Apollo's centralized origination, structuring, and distribution platform, reporting directly to Co-Presidents, Scott Kleinman and Jim Zelter. Farr recently served as a Senior Advisor to The Carlyle Group from 2017 to 2019, focused on growing the credit business and expanding into capital markets. He was Head of Credit and Capital Markets at KKR, where he drove the build-out of its structuring, capital markets advisory, distribution, and credit origination franchises. Before KKR, he spent 12 years at Citigroup Global Markets Inc. as a managing director who served as Co-Head of North American Equity Capital Markets.
❖ Paul Griffiths was appointed Global Head of Institutional Business with HSBC Asset Management, effective May 5. He will lead the firm's institutional sales and client management teams. Based in London, he will report to CEO Nicolas Moreau. He was at First Sentier Investments, where he was the CIO of fixed income and multi-asset solutions. Previously, he held senior roles with firms including Aberdeen Asset Management, Credit Suisse, Axa, and Investec.
❖ Yin Haining, Head of Greater China for PIMCO, is stepping down. She joined the firm in 2008 and has held various APAC-related product, business development, and leadership roles. She plans to remain with PIMCO until the end of June. Her next role is TBD.
❖ J.B. Kiley joined GCM Grosvenor in May 2021 as a Managing Director on the firm's Client Group focused on business development, client service, and consultant relations. Before joining GCM, Mr. Kiley was a Managing Director in KKR's Client and Partner Group. He served as a Senior Relationship Manager to U.S. institutional investors across KKR's entire product suite. Previously while at KKR, he was an alternative investment product specialist with Goldman Sachs Asset Management. Before that, he was a Relationship Manager in the pension solution groups of both Lehman Brothers and Morgan Stanley.
❖ Jackie Krese joined BlackRock in the newly created Head of U.S. BlackRock Capital Markets position in May 2021. Previously, she was a Managing Director and Group Head of Americas Capital Markets Solutions with Credit Suisse for the last 16 years. Her role will take charge of expanding BlackRock capital markets' liquid syndicate, private sourcing, fundraising, client activities, and environmental, social, and governance-related efforts in the U.S.
❖ Bing Liu joined Manulife Investment Management in April 2021 as Managing Director & Head of Institutional Sales for Greater China. She joined from Macquarie Asset Management, where she was Head of Greater China.
❖ Nadejda de Lousanoff joined Golding Capital Partners in May 2021 as Director of Business Development and Institutional Sales for Private Equity, Private Debt, and Infrastructure Debt. Based in Munich, she was most recently with PIMCO for the last eight years in Account Management focused on Client Management & Business Development.
❖ Andrew Marshall joined Aviva Investors, the global asset management arm of insurer Aviva, as Head of Sales in Canada. He started on May 25 and works in Toronto. Marshall is responsible for growing the firm's institutional business in Canada and will report to the head of the Americas client solutions unit, Tom Meyers. Previously, Marshall was at Aviva Investors as Senior Vice President of Institutional Client Services at Fiera Capital, a Canadian asset manager with around $143 billion in assets under management.
❖ Darya Mastronardi joined Tiger Global Management in June 2021. She’s focused on Investor Relations, which is what her background is in as previously, she was Head of Investor Relations with JANA Partners for the last eight and a half years. Before that, she was Head of Marketing & I.R. with Axial Capital for a year.
❖ Chris Tarui joined T. Rowe Price in a newly created role of business development executive for alternatives in June 2021. He will lead the sales effort and work with client-facing teams across the firm to identify prospects and develop new relationships. He was previously at PIMCO, where he was most recently an Executive Vice President, Institutional Client Management, in his second stint with the firm starting in 2018. Before this, he was with KKR for a year and a half. Before KKR, Tarui was with Bridgewater Associates for five years. He spent six years with PIMCO on the firm's Institutional Business Development and Consultant Relations Group in his first tenure with the firm.
❖ Chris Tehranian joined First Sentier Investors as Senior Director for Distribution in April 2021. Previously, Tehranian was at First Avenue Partners as a Partner and Head of U.S. Project Manager for nearly four years. He fills a newly created role projected to cover asset owners and consultants, focusing on direct infrastructure investments in the North American market. He is based in New York and reports to Bachar Beaini, Managing Director for the Americas.
❖ Selina Tyler joined Lombard Odier Investment Management in June 2021 as Head of U.K. Wholesale. She left Mirabaud Asset Management after two and a half years in a similar role.
❖ Jasvir Virk joined HSBC Asset Management in May 2021 as Business Development Director for its U.K. institutional team. In this new role, she is based in London and reports to Maria Ryan, Head of Institutional Sales U.K., MENA, and Nordics. She was previously at BlackRock, where she was a Senior Director and a member of the U.K. institutional business responsible for client relationship management and business development. Before that, she was Head of Client Relations Europe at PineBridge Investments, working with institutional and intermediary clients across Europe. Virk has also held several roles at Goldman Sachs Asset Management.
❖ Tracy Wills-Zapata joined PIMCO as an Executive Vice President and Head of Alternatives Sales in May 2021 within the U.S. Wealth Management division. She replaced Mike Arundel, who retired last year. She was previously at Wells Fargo as a Managing Director of investment solutions consulting within the bank's private wealth management unit. She works in the Charlotte office.
Private Fund Groups
❖ Anna Dayn joined New End, a London-based independent strategic advisory and capital formation firm in private markets, as a Managing Partner in June 2021. She is based in New York and joined from XTP, where she served as President, North America for the last five years. Before that, Dayn ran her own boutique private equity advisory platform, Dayn Advisors, and held positions at Lehman Brothers, Capital Dynamics, and Rothschild.
❖ Tim Fitzsimmons, who was with Moelis & Company's PFG as a Managing Director, PE Capital Raising for nearly six years, joined Lorient Capital in June 2021 as Head of Capital Formation.
❖ Kevin Imhoff joined Metric Point Capital in July 2021 as a Principal. Imhoff recently left Atlantic Pacific Capital, focusing on Midwest distribution and relationship management and secondary advisory mandates. He is in Stamford.
❖ Anna Jerstrom left Mercury Capital Advisors in June 2021, where she was a Partner to join Greenbrook as Head of Investor Advisory. She works in London.
❖ Patrick Kennedy joined Pinnacle Trust Partners as a Managing Director in April 2021. Previously, he was focused on Business Development with Northwest Passage Capital Advisors for the last three years. Before that, he was a Managing Director and Senior Client Relationship Manager with Morgan Stanley.
❖ Robert Lang joined FirstPoint Equity in May 2021 as a Managing Director focused on sustainable real assets business development and client advisory. He was with Cambridge Associates for the last 22 years in a research and due diligence capacity, most recently as a Managing Director and Head of Due Diligence.
❖ Christian von Massenbach co-founded the just-launched, Munich-based placement agent 51 North Capital in May 2021. He assumed the role of Managing Partner. He was formerly a Managing Director in Evercore's private placement group, responsible for DACH & Middle East coverage.
❖ Jill Meleski Cohen joined Mercury Capital Advisors in April 2021 as a Partner on the firm's Distribution team. Before joining Mercury, she was a Senior Managing Director with Avenue Capital Group, a $9B investment management firm specializing in credit, special situations, and distressed investments. Before joining Avenue, Cohen was with Pinnacle Trust Partners and Pinnacle Asset Management. She was Co-Head of Distribution and Investor Relations for the commodity fund-of-hedge fund, directs and private equity strategies.
❖ Fabian Pötter co-founded 51 North Capital, an independent placement agent and advisor focused on raising capital for primaries and co-investment opportunities across private equity, infrastructure, and private debt, in May 2021 in Munich. He was formerly Co-Head of Infrastructure at Golding, where he played a leading role in raising €4.5bn of infrastructure AUM.
❖ Luke Sanders became Principal at Atlantic-Pacific Capital from April 2021 in New York. Sanders was a Partner at Mercury Capital Advisors from January 2018 to April 2021 in New York and Fundraising Professional at Quest Fund Placement LLP from September 2014 to March 2017 in London.
❖ Michael Yang was appointed Partner with Sera Global in April 2021 as the firm bulks up its Private Capital Advisory business. A real estate expert, he was most recently with Goldman Sachs as an Executive Director and V.P. for three years, and he was Head of RE with NEPC for four years before that. He is in Boston.
❖ Alice Catalano joined AmCap Incorporated as a Managing Director, Investor Relations, in April 2021. Currently based in Stamford, Catalano was previously at Sarona Asset Management. She was a Managing Director of Investor Relations & Business Development with North America coverage for over two and a half years.
❖ Andy Hayes joined Partners Group in May 2021 as the firm seeks to expand its capital raising capacities. Hayes is currently on garden leave. Most recently, he was with FirstAvenue Partners as a Managing Director covering the Western U.S., including Texas and Canada. He is in the Dallas-Fort Worth area. In his new role at Partners, he will focus on institutional capital raising. Before FirstAvenue, he was a private equity investment officer with the Oregon State Treasury.
❖ Angy Herrera left Brevan Howard to join Galaxy Digital in June 2021, where she spent more than a decade on the firm's Marketing & Investor Relations team in New York. She reports directly to Galaxy Digital's Head of Asset Management, Steve Kurz. ❖ Archie Hunter joined Insight Partners in June 2021 as a Director on the firm's Investor Relations team. Previously, he was at Landmark Partners, where he was a Director who led existing and prospective investor coverage across Europe and the Middle East. He works out of London. ❖ Kimberly Kile joined Access Holdings in June 2021 as Managing Director & Head of Fundraising, Investor Relations & Communications. Kile was with ABS Capital Partners for nearly 18 years, most recently as a G.P. and Head of Fundraising, I.R. & Marketing.
❖ Emily Mason joined boutique Private Equity firm Cornell Capital in May 2021 as a Director, Investor Relations. Previously, Mason was with Silver Point Capital's Investor Relations team for two and a half years. Before that, she was a member of KKR's Client and Partner Group for seven and a half years, most recently as a Principal. She is in New York.
❖ Peter Mastropietro left BlackRock in June 2021, where he was a Director for U.S. pensions in BlackRock's Institutional Client Business team to join digital asset investment firm Galaxy Digital as a Vice President.
❖ Neha Miglani joined EQT Group in May 2021 as a Managing Director, Global Capital Raising for EQT's Public Value Fund. Based in London, she was most recently with Dymon Asia Capital, where she served as Head of I.R. for North America, Europe, and the Middle East for a year.
❖ Vincenzo Narciso, a Principal, Investor Relations, left the Rhone Group in June 2021 while raising 3 billion Euros for its sixth fund. Narciso went along with three other senior executives to found their firm, which hasn't been named yet. Narciso joined Rhone in June 2020 from The Carlyle Group, a Managing Director of Investor Relations.
❖ Meaghan O'Grady joined Palladium Equity Partners in June 2021 as a Director, Business Development in New York. She was previously with KPS Capital Partners, where she was a V.P. and Head of Business Development for a year and a half.
❖ Paul Saunders joined Partners Group in May 2021 to lead private debt fundraising for the Americas. Previously, he was a Vice President with BlackRock as a member of the Product Strategy team supporting the firm's Global Credit Platform. As a Product Strategist, Saunders was responsible for product development, portfolio strategy, positioning, thought leadership, and strategic growth, acting as a link between investment teams and clients. Before this, he was a member of the Relationship Management group within BlackRock Solutions, where he was responsible for managing the firm's relationships with insurance clients and delivering the value proposition of BRS's enterprise investment system, Aladdin. Before joining BlackRock, he worked at Citigroup in the Interest Rate Derivative Trading group and began his Fixed Income Technology group career. Source: Paul Saunders - Institutional | BlackRock. https://www.blackrock.com/institutions/en-us/biographies/paul-saunders
❖ Jay Steinle joined Atlantic Street Capital as a Partner responsible for the firm's investor relations efforts in May 2021. Before this, he was with Lighthouse Partners for the last 16 years, most recently as a Managing Director. He works in West Palm Beach.
❖ Jason Sutton joined One Rock Capital Partners in June 2021 as Head of Business Development. Previously, he was a Senior Vice President focused on Business Development. He will relocate from Los Angeles to New York for this role.
Real Estate & Infrastructure
❖ Isabelle Brennan joined CRBE Global Investors in March 2021 as Senior Director – Global Investor Solutions from M&G Investments. She works in London.
❖ Catherine Campbell joined Antin Infrastructure Partners in July 2021 as a Director from BlackRock, where she was a Director and Lead Product Strategist for the firm's Renewable Power business on the Real Assets platform.
❖ Brian Chase has joined Quinbrook as Managing Director, Head of Capital Formation and Investor Engagement in June 2021. He was previously at BlackRock for almost five years most recently as Managing Director, Alternative Solutions.
❖ Joe Chien began his role with Partners Group in May 2021 as a Managing Director and Head of Private Real Estate Asia. He joined following Bastian Wolff's quiet departure from the same role in February. Previously, he was a Managing Director at Blackstone Real Estate for six years and an Executive Director with GreenOak Real Estate for four years before that.
❖ Nick Evans, Managing Director and Head of Australia & APAC for Nuveen's Real Estate business, left the firm in April 2021. He works in Sydney. His next role is TBD.
❖ Shawn Johnson was named CEO of AMP Capital in June 2021 in advance of its demerger with AMP. He will replace beleaguered Boe Pahari, who transitioned to Head of Infrastructure Equity. Johnson will relocate from Boston to Sydney, at least temporarily, to oversee the separation project after the failed takeover by Ares Management. Johnson most recently ran a small hedge fund, Guidon Capital, that he founded nearly a decade ago, and before that, he spent 15 years with State Street.
❖ Steven Kennedy joined Antin Infrastructure Partners in June 2021 as a Director focused on North American Investor Relations and Fundraising. Previously, he was with Capital Dynamics for two and a half years, most recently as a Director and Senior Product Specialist for Clean Energy Infrastructure.
❖ Andrew Kleinig has taken on expanded responsibilities with Nuveen in their Real Estate business following the departure of Managing Director, Nick Evans in April 2021. Kleinig was just appointed Head of Australia and works in Sydney. He has been at Nuveen for over six years. His roles ranged from Director of Institutional Asset Management Business Development to senior roles in G.E.
❖ Mathias Lejeune has joined Ancala Partners in July 2021 where he will oversee I/R and Capital Raising initiatives. He was previously at Pantheon for almost six years most recently as Relationship Manager, Vice President.
❖ Bill Loskota joined Blackstone as a Managing Director and Real Estate Product Specialist in July 2021 in Los Angeles after a decade with Oaktree Capital Management. He most recently served in a similar role.
❖ Christopher Slavin joined Antin Infrastructure Partners in July 2021 as an Investor Relations Principal from Albourne Partners, where he was a Partner, Infrastructure and Real Assets.
❖ Janin Soder has joined Lombard Odier in July 2021 as Head of Private Markets Solutions from SUSI Partners. Soder was previously at SUSI Partners for five years, most recently as Director, Head of Clients DACH. She is based in Zurich.
❖ John Wright left Kayne Anderson Capital in May 2021. He was a Senior Management Director for 11 years before co-founded real estate investment management, C.A. Ventures, and industry veterans Tom Dreyer, Michael Frenz, and Anthony Porcelli.
❖ Gordon Appell joined PJT Partners in June 2021 to help build out its secondaries business. His title is TBD, but it is known that he has joined PJT and reports to Head of Secondaries, David Purdue. Previously, Appell was with KKR, where he was a Director, and before that, he spent over a decade with Credit Suisse on the firm's private fund group. He is in New York.
❖ Ryan Carey joined the Private Capital Advisory business with Greenhill & Co. in June 2021 as a Managing Director. Carey was previously at Jefferies, where he was a Senior Vice President for the last four years. Before that, he was a Director of P.E. Distribution with Sixpoint Partners for nearly four years. He is in New York.
❖ Charles Carroll joined the newly launched secondaries business at Morgan Stanley in June 2021 from Park Hill Group. He was a Managing Director on their Secondary Advisory unit for the last five years in New York.
❖ Roger Lengyel joined Central Park Group in May 2021 as Head of Private Equity Secondaries in New York. Previously, he was a Director and Senior Vice President with Fortress Investment Group.
❖ Darren O'Brien joined the Campbell Lutyens Secondary Advisory team in May 2021 as a Principal. Previously, O'Brien was with Origami Capital Partners, a manager that targets assets trapped in illiquid fund structures, as a Partners. He is in Chicago.
❖ Dominik Woessner left his role as Director at Lazard Private Capital Advisory team in May 2021 to join Thrive, private capital placement and advisory business. He will continue to work in Singapore. Previously, he was a Managing Director with Greenhill Cogent for a decade and joined Lazard in early 2018.
❖ Sameer Shamsi, veteran secondaries professional, began his new role with Houlihan Lokey as a Managing Director and Head of Secondaries for the firm's Private Fund group in May 2021. Shamsi has spent the last four years on the secondaries team with Credit Suisse's Private Fund Group business based in New York. He has also held senior roles at Evercore and UBS. Just last year, Credit Suisse merged its private fund group and secondaries advisory into Capital Solutions, helmed by Paul Van Hook and Jeremy Duskin.
❖Christophe Allafranco was appointed Head of Client Services in June 2021 with Holborn Assets in Dubai. He was previously at Friends Provident International, where he was most recently Head of Protection Sales.
❖ Gary Collins joined AssetCo. in London as Head of Distribution in May 2021. Previously, he was with Columbia Threadneedle as Head of Wholesale Distribution for EMEA and LatAm, in addition to Interim Head of Distribution, before leaving the firm in 2020.
❖ Christine Gill joined BNY Mellon Wealth Management in May 2021. She is based in Boston. Previously, Gill was a Managing Director at BNY Mellon. She joined BNY Mellon after PNC Global Investment was acquired by the firm in 2010. At PNC Global she served as Senior Vice President & Managing Director, Strategic Product Management for nine years.
❖ Greg Khost was appointed Managing Director and Head of Private Wealth Management Sales in May 2021 at Neuberger Berman. He will report to the firm's Head of Private Wealth Management, Stephanie Luedke. He was previously at Deutsche Bank as a Managing Director and member of the private bank's executive management committee and investment product committee. He has also served as Head of Business Development in the Americas and was responsible for recruiting and hiring bankers in the U.S.
❖ Laura Geiger-Pancera was appointed Director of UHNW and Family Offices with HSBC Wealth Management in May 2021. Previously, she spent two decades with UBS in wealth management. Working in Europe and Asia, she served on UHNW global and regional executive committees and led various strategic client and product initiatives. Most recently, she led the Global UHNW Client Strategy Office at UBS. She is in Zurich.
❖ Jamie Ponting was promoted to Head of Strategy Development - Strategy & Change - Business Development & Advice at St. James's Place wealth management in May 2021. He has been with the firm for almost 13 years and promotes several times since his start. He began his career with the firm in 2008.
❖ Christopher A. Reynolds joined RiskBridge Advisors Atlanta office in May 2021 as Managing Director and Head of Institutional Services, where he is responsible for all institutional sales, marketing, and client service. Previously, he was a Partner and Head of Distribution with Cornerstone Investment Partners.
❖ Nikhil Shah joined NYDIG as Head of Family Office Solutions in April 2021. He joined BlackRock as an Analyst in 2011 then promoted to Director, Institutional Sales with the firm in January 2021. He works in New York.
❖ Mary Strother joined single-family office Sandalwood as Head of Business Development in May 2021. Previously, she was with OnCor Capital for the last two years as a Managing Director. She is in New York.
❖ Karen Wawrzaszek became Regional President of Product Portfolio and Client Relationship Management at BNY Mellon Wealth Management from May 2021 to present in the Washington DC-Baltimore area. She used to be Principal & Senior Director of Financial Planning at SBSB Financial Advisors from November 2018 to May 2021 in Washington D.C