Buy Side Market Update February 2021

Fund News

• Rachel LORD, Head of EMEA at BlackRock, is moving to Hong Kong to take on the role of Chairman and Head of Asia Pacific, with Stephen COHEN, Head of EMEA for iShares, being named as her replacement
• CQS is to close down its Global Relative Value strategy, managing assets of c. USD 525 million, following the departure of Chief Investment Officer Prakash NARAYANAN to Citadel as a Portfolio Manager for their Global Credit business. Citadel has also hired Zachariah BARRATT, who was Head of Corporate Credit Trading at Apollo Global Management, to join the Global Credit Business, reporting to Head of Credit Pablo SALAME, as well as Chris SCARPELLI from Rose Grove Capital Management. Barratt will be replaced in his role at Apollo by Portfolio Managers Chris LAHOUD and James VANEK
• Morgan Stanley Investment Management is soft closing its MS INVF Global Opportunity fund, managed by Kristian HEUGH, after its assets under management doubled in 2020 from USD 10 billion to over USD 20 billion
• William Blair Investment Management has agreed to purchase Investment Counselors of Maryland, the Chicago-based, value-focused boutique with c. USD 3.2 billion in assets under management
• Australian investment manager Yarra Capital Management has agreed to take over the Australian equities and fixed income businesses of Nikko Asset Management, bringing its AUM up from c. AUD 8 billion to c. AUD 20 billion, with Nikko taking a 20% stake in the combined business

People Moves

• Eric LANE, Goldman Sachs, Co-Head of the Asset Management division, is leaving to join Tiger Global as President & Chief Operating Officer
• Bob DOLL, Nuveen, Chief Equity Strategist & Senior Portfolio Manager, is to leave
• Mohsen FAHMI, PIMCO, Portfolio Manager Multi-Asset, is to leave at the end of the year
• Ankur CRAWFORD, Alger Management, Executive Vice President, Portfolio Manager, Technology, New York, has left
• Keith TAPPER, Citi, Senior Associate, Equity Research, Biotechnology, New York, has joined Akimbo Capital as a Portfolio Manager, New York
• Max TCHEREVIK, JP Morgan, Associate, Leveraged Finance, New York, has joined Sculptor Capital Management as a Credit Analyst
• Ronak PATEL, Guggenheim Partners, Associate, Investment Banking, M&A, New York, has joined Balyasny Asset Management as an Associate, Long/Short Equity, TMT, New York
• Tania TSE, Morgan Stanley, Analyst, Investment Banking, TMT, Hong Kong, has joined Capital Group as a Research Associate, Hong Kong