Blog

Buy Side Market Update November 2020

Delta has summarised Buy Side hiring trends including people moves at BNP Paribas Asset Management, Carlyle, DPI and more in November 2020

Public - Global

Fund News

  • Blackstone has agreed to acquire DCI, the quantitative credit investor with circa USD 7.5 billion in AuM across Investment Grade, High Yield, and Emerging Corporate Credit Markets
  • Gordon GRENDER is to step down from his Fund Manager role for the North American Growth fund at GAM, with Ali MIREMADI and Kevin KRUCZYNSKU being appointed to oversee the fund
  • Highbridge Capital Management, a subsidiary of JP Morgan Asset Management, has held the final close of its Convertible Dislocation fund at over USD 2 billion, half of which is already invested since formation in March
  • State Street Global Advisors has announced current Global Chief Investment Officer Richard LACAILLE is to be appointed to the new role of Senior Investment Advisor, with Deputy Global Chief Investment Officer Lori HEINEL moving into the Global Chief Investment Officer role in March
  • York Capital Management has confirmed plans to shut down its hedge fund business to focus on longer duration assets such as private equity and debt. The firm is reportedly planning to wind down its European business, spin off the Asia Pacific business, and leave its US flagship fund to run mainly internal capital

People Moves

  • Christopher BECK, Macquarie Investment Management, Chief Investment Officer, US Small & Mid Cap Value Equities, Philadelphia, has left

Public - Emerging & Frontier Markets

Fund News

  • Aikya Investment Management, the emerging markets investment manager founded this year by a team of former First State employees, has launched its first Global Emerging Markets fund
  • Amundi has closed its EUR 35 million Asian Local Debt fund as it was “unable to reach critical size”
  • Goldman Sachs Asset Management has consolidated its emerging markets equity offering by liquidating its Brics Equity and N-11 Equity funds and rolling them into its Emerging Markets Equity fund, managed by Basak YAVUZ and Hiren DASANI
  • Krace ZHOU, formerly Morgan Stanley Investment Management, Managing Director & Portfolio Manager, Asia Equities, Hong Kong, has founded StillBrook Capital to invest in Asia Equities, with a focus on Greater China

People Moves

  • Robert MARSHALL-LEE, Newton Investment Management, Head of Emerging Markets & Asian Core Equities, London, is to join Odey Asset Management in 2021 to head a new global emerging markets long-only team
  • Lydia SO, Matthews Asia, Portfolio Manager, Asia ex Japan Equities, San Francisco, has joined Rondure Global Advisors as a Portfolio Manager, Salt Lake City
  • Lynn XING, Bank of China, Investment Manager, Private & Public Equity Investments, Hong Kong, has joined GAM’s emerging markets equity team in Hong Kong, reporting to Robert MUMFORD, Portfolio Manager, Hong Kong
  • Sebastian PETRIC, Raiffeisen Bank, Emerging Markets Strategist, Economics, Fixed Income & FX Research, Vienna, has joined LGT as a Portfolio Manager, Vienna

Public - Europe

Fund News

  • US hedge fund Citadel has announced plans to open an office in Paris, its 18th worldwide, in 2021
  • A team of 8, including Co-Heads Rik DEN HARTOG and Pim BAN MOURIK BROEKMAN, has left Kempen to establish a European credit investment team at Loomis Sayles out of their newly opened office in Utrecht

People Moves

  • Mike CLEMENTS¸ former SYZ Asset Management, Head of European Equities, and Pras JEYANANDHAN, former SYZ Asset Management, Senior Investment Analyst, have joined Downing as Co-Portfolio Managers for a new European-focused fund
  • Asad FARID, Berenberg, Associate Director, Equity Research, Batteries & ESG, London, has joined Shell Asset Management as a Portfolio Manager, Fundamental Equities, The Hague
  • Kerem Murat BOSTAN, Point72, Long/Short Equity Analyst, London, has joined Millennium in a similar position
  • Alessandro CANTARUTTI, JP Morgan, Associate, Investment Banking, Power & Utilities, London, has joined Balyasny Asset Management as a Long/Short Equity Associate, London

Private - Global

Fund News

  • Bain Capital has raised USD 800 million for its second impact investment fund as part of the Bain Capital Double Impact unit
  • USD 3 billion investor Credit Suisse Energy Infrastructure Partners is to rebrand as Energy Infrastructure Partners as it aims to become an independent investment manager and grow into new regions
  • Entree Capital has reached the final close of the Opportunity Fund, its first targeting later stage investments across Israel, the US and Europe, at USD 125 million
  • Goldman Sachs has held the final close of its Vintage VIII private equity secondaries fund at USD 10 billion, exceeding its initial USD 7 billion target
  • Ibex Investors has held the close of its second Israel-focused fund, Ibex Israel VC LP, with USD 100 million in capital commitments
  • Israeli VC firm Olive Tree Ventures has announced it is to rebrand itself as OTV. The firm also announced the final close of its dedicated digital health fund at USD 170 million, and the hire of Jose Antonio URRUTIA RIVAS as Head of Asia Pacific to lead their expansion into the region
  • Searchlight Capital Partners has announced the final close of its third fund, investing in private equity and distressed debt in Europe and North America, at USD 3.4 billion, above its initial target of USD 2.75 billion

People Moves

  • Macky TALL, CDPQ, President & CEO, CDPQ Infra, Head of Real Assets & Private Equity, is to join The Carlyle Group in 2021 as Co-Chair of the Carlyle Infrastructure Group, reporting to Chief Executive Officer Kewsong LEE
  • Brian SHETH, Vista Equity Partners, President & Co-Founder, has left
  • Gregg LEMKAU, Goldman Sachs, Co-Head of Global Investment Banking, New York, has left to join MSD Partners, the investment firm of Michael DELL, as CEO
  • Rick AMMAR, formerly Macquarie, Private Capital Investments, New York, has joined HKW as a Vice President, Private Equity, New York
  • Ana KOBAL, Goldman Sachs, Associate, Investment Banking, New York, has joined Blackstone’s Private Equity Secondaries team in New York
  • Badreddine ASSIOUA, Goldman Sachs, Associate, Investment Banking, San Francisco, has joined Bertram Capital as a Private Equity Associate, Industrials, San Francisco
  • Omar KHATIB, Barclays, Analyst, Investment Banking, Technology, New York, has joined Declaration Partners as a Growth Equity Associate, New York

Private - Emerging & Frontier Markets

Fund News

  • African Infrastructure Investment Managers has completed a capital increase of USD 80 million for its AIIF3 fund, taking total commitments to USD 400 million
  • Axiom Asia Private Capital has held the final close for Axiom Asia VI, its sixth Asia-focused fund-of-funds, at USD 1.8 billion
  • Development Partners International has announced the appointment of Babacar KA, Takudzwa MUTASA and Marc STONEHAM as Partners. Ka is DPI’s West African deal lead while Mutasa holds a similar position for East Africa, and Stoneham leads the portfolio management team

People Moves

  • Nieros OYEGUN, CDC Group, Head of The Africa List and Nigeria Coverage, has joined Verod Capital Management as a Principal and Chief Operating Officer
  • Manish RUNGTA, Duet Group, Managing Director, Private Equity, London, has left to join Caelum Capital as a Managing Director, London
  • Allen AUGUSTINE, Goldman Sachs, Executive Director, Investment Banking, Johannesburg, has joined the IFC as Senior Investment Officer, Agribusiness & Forestry, Johannesburg
  • Talal DAMEN, Nomura, Vice President, Investment Banking, MENA Coverage, Dubai, has joined STV as a Senior Associate, Venture Capital Investments, Dubai

Private - Europe

Fund News

  • HIG Capital has held the final close for its Europe Capital Partners III fund at EUR 1.1 billion
  • NN Investment Partners and Channel Capital Advisors have launched a new fund investing in trade finance loans with an ESG filter

People Moves

  • BNP Paribas Asset Management has announced a number of hires to strengthen its Private Debt and Real Assets division. Stephanie PASSET, Credit Agricole CIB, Executive Director, Infrastructure Capital Markets, Paris, has joined as Chief Investment Officer, Infrastructure Debt, Paris, reporting to Karen AZOULAUY, Head of Infrastructure Debt, Paris, while Romain LINOT, Aviva Investors, Head of Continental Europe Real Estate Finance, Paris, has joined as Chief Investment Officer, Real Estate Debt, Paris, reporting to Christophe MONTCERISIER, Head of Infrastructure Debt
  • Caine BOUWMEESTER, former Green Investment Group, Senior Vice President, London, has joined DIF Capital Partners as a Managing Director, Renewables, London
  • Davide VITRO, Jefferies, Associate, Investment Banking, M&A, London, has joined TA Associates as a Growth Private Equity Investor, London
  • Robin SEMERJIBASHIAN, Perella Weinberg Partners, Investment Banking, Financial Restructuring, London, has joined Fortress Investment Group as an Associate, Special Situations, London
  • Alessandro ZOBOLI, Novalpina Capital, Associate, Special Situations, London, has joined Telemos Capital as an Investment Associate, Private Equity, London
  • El Mokhtar FIKRI, Societe Generale, Associate, Investment Banking, M&A, Paris, has joined Vauban Infrastructure Partners as an Investment Manager, Paris
  • David SACHT, Morgan Stanley, Analyst, Investment Banking, Oil & Gas, London, has joined Appian Capital Advisory as an Investment Associate, London

SWFs & Pension Funds

Fund News

  • CPP Investments has established Renewable Power Capital to invest in solar, onshore wind and energy storage projects across Europe, appoingting Bob PSARADELLIS, formerly GE Energy Financial Services, as Chief Executive Officer, and Shaun KINGSBURY, formerly Green Investment Bank, as Chairman

People Moves

  • Karen FRANK, Barclays, Chief Executive Officer, Private Bank, London, has joined the Ontario Teachers’ Pension Plan as Global Head of Equities, London

Recent Blog Posts

  Robert Winter

Investment Banking Market Update November 2020

  Anastasija Kivko

Private Banking Market Update November 2020

  Eren Yurdakul

Equities Market Update November 2020

  William White

FICC Market Update November 2020

  Dipesh Ruparelia

Buy Side Market Update October 2020

  Robert Winter

Investment Banking Market Update October 2020

  William White

FICC Market Update October 2020

  Eren Yurdakul

Equities Market Update October 2020

  Anastasija Kivko

Private Banking Market Update October 2020

  Yiannis Demopoulos, Irina Perova

Goldman Sachs Hires for Emerging Markets Wealth in Switzerland