Fri, Apr 20, 2018
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. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its