Opalesque Industry Update - Alternative asset manager Investcorp today announced the appointment of David Bruce as a managing director and co-head of North America institutional sales for its hedge fund business. At the corporate level, David will report to Deepak Gurnani, Investcorp’s head of hedge funds and chief investment officer, and will be responsible for marketing and client service across institutional channels together with co-head Lofton Holder.|
David joins Investcorp after twelve years with Barclays Global Investor where he was a managing director responsible for leading the business development and strategic account client relationship teams in the Americas Institutional Business group. Before that, David was at California Federal Bank, F.S.B. where he was financial planning and analysis director.
“We’re continuing to invest in high-caliber people such as David to build on our achievements of the past year,” said Deepak Gurnani. “We’ve had a highly successful twelve months in which we raised $1.1 billion in new hedge fund assets, much of it from US institutions. David joining is a sign of our continued commitment towards servicing and advising North American institutions. Our longstanding experience in managed accounts, together with a significant commitment to innovative research into the underlying drivers of hedge fund returns and risks has been particularly persuasive to investors.”
Investcorp’s hedge fund business currently manages a range of customised hedge fund portfolios, funds of hedge funds and structured fund products on behalf of the firm’s institutional and private clients. The underlying hedge fund managers invest in a variety of strategies and liquid financial instruments, including equities, bonds, currencies, and derivatives. In addition, through the Investcorp Single Manager Platform, Investcorp provides investors with access to experienced individual managers across a range of investment strategies. At June 30, 2010, total hedge fund assets under management stood at $4.7 billion.