Sun, Mar 29, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Ascent Private Capital Management nabs former CalPERS PM Kurt Silberstein to build alternative investments group

Thursday, July 28, 2011

Kurt Silberstein
Opalesque Industry Update Ultra high net worth individuals represent a significant asset pool and newly formed Ascent Private Capital Management intends to offer their investor clients top tier sourcing of these and other alternatives managers, that much is evident with their Thursday announcement that Kurt Silberstein, formerly Senior Portfolio Manager for global equities at California Public Employees Retirement System (CalPERS), has joined the firm as Managing Director and head of alternative investments. Silberstein will focus on providing ultra high net worth clients with oversight (due diligence, sourcing, researching, etc) of hedge funds, private equity funds, and other alternatives vehicles.

Silbersteins previous role at CalPERS had him overseeing a $25bn portfolio, which included relationships with multiple hedge funds, long-only funds and corporate governance funds. His hedge fund background also extends to designing and managing CalPERS $5.5bn multi-strategy hedge fund portfolio.

"Kurt's experience as an institutional investor makes him well suited for this position, which will have a distinctly institutional orientation," said Dan Rauchle, Chief Investment Officer at Ascent. "Kurt is recognized as an industry leader in institutional portfolio design and implementation, as well as in manager-relationship innovation. Additionally, he has significant experience in building and managing investment teams."

Silberstein is to start at Ascent in early August and will source vehicles on a world-wide basis, providing the firms clients with insight, education and advice on alternative investment vehicles.

Ascent was formed earlier in 2011, and was created to service US Banks ultra high net worth clients and give them additional expertise on alternative investments. Ultra high net worth clients represent a significant asset pool for hedge funds and the firm expects to begin opening Ascent Capital offices in select cities this year.

Kirsten Bischoff

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Does the hedge fund industry benefit society?[more]

    This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a la

  2. Private credit comes into focus for investors[more]

    Bailey McCann, Opalesque New York: As investors look for a way out of the low yield/no yield environment, private credit is becoming an increasingly attractive asset class, according to a white paper from Bayshore Capital Advisors. Private credit has grown steadily since the financial crisis as

  3. Other Voices: The role of diversification in CTA portfolios[more]

    2014 brought a resurgence of managed futures strategies, or CTAs, which performed very well as a whole, outperforming all other hedge fund strategies. However, a closer look reveals that there was a wide range of performance, or return dispersion, across managers. The bottom line? Not all CTAs

  4. Neuberger Berman unit buys 20% stake in activist hedge fund Jana Partners for $2bn[more]

    Komfie Manalo, Opalesque Asia: Neuberger Berman’s unit Dyal Capital Partners bought a 20% stake in activist hedge fund firm Jana Partners worth $2bn, WSJ.com reports. The deal comes as activi

  5. Hedge fund launches fall again, $1bn funds found to outperform even smaller hedge funds[more]

    Komfie Manalo, Opalesque Asia: The number of new hedge fund launches fell again in 2014, the third consecutive year of decline, while fund liquidations saw their first drop since 2010, according to the latest HFR Market Microstructure Industry Report released by industry data provider HFR. Acc

 

banner