Tue, Feb 21, 2017
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. People - Kuwait wealth fund head Al Saad said to step down after 14 years[more]

    From Bloomberg.com: Kuwait Investment Authority is set to name Farouk Bastaki as managing director, replacing Bader Al Saad who ran the world's fifth-largest sovereign wealth fund for 14 years, a person familiar with the matter said. The KIA, as the fund is known, is finalizing the appointment, said

  2. Manager Profile - Eddie Lampert: a painful entanglement with Sears[more]

    From Moneyweek.com: "In the long run we are all dead." Lex in the Financial Times reached for the famous quote from John Maynard Keynes in January when, after a long and unforgiving decline, the clock finally appeared to be running out on Sears, the iconic US department store group. Yet the group's

  3. Investing - Hedge funds quit Aberdeen shorts as shares begin to recover, Hedge funds' next big short: U.S. malls, O'Connor fund owns 9.5% of Protalix Biotherapeutics, U.S. hedge fund takes position in Macau hotel The 13[more]

    Hedge funds quit Aberdeen shorts as shares begin to recover From Investmentweek.co.uk: The last two hedge funds to short Aberdeen Asset Management have removed their positions, as the fund group's shares begin to show signs of recovery after a difficult few years. According to the Financ

  4. Latin America, high yields and Asia Pacific strategies dominate hedge fund returns in January[more]

    Komfie Manalo, Opalesque Asia: Latin America (+7.04%), high yield (5.63%), and Asia-Pacific (+5.06%) strategies dominated hedge fund performance in January, data provider Hennesee Fund Research said. The bottom three strategies for the mont

  5. Investing - Hedge funds loading up on this dividend stock, The biggest hedge funds have been piling into bank stocks[more]

    Hedge funds loading up on this dividend stock From Incomeinvestors.com: Hedge funds are backing up the truck on Cameco Corp stock. Billionaire Jim Simons owns 389,000 shares. Other Wall Street titans - including Ray Dalio, Ken Griffin, and Chuck Royce - have been quietly building positio