New Managers July 2016

LAUNCHES

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Vineer Bhansali Janus Capital, which oversees about $191bn, has bought a minority stake in LongTail Alpha, the hedge fund Vineer Bhansali started this year after he left Pimco in December. Terms were not disclosed. The minority stake is Janus's latest addition to chief executive Dick Weil's strategy of "intelligent diversification", the Financial Times said. Janus has been amassing a cadre of former employees from Pimco, the company Bill Gross co-founded in 1971. Bhansali joined Pimco in 2000 and was the head of the firm's quantitative investment portfolios, which total almost $50bn in assets.

Andrew Wiltshire, who formerly ran alternative and natural resource investments at Harvard University's endowment, is co-founding a new firm and seeking about $500m to allocate to timberland and agriculture, according to Bloomberg. Wiltshire is teaming up with former colleagues Oliver Grantham, son of value investor Jeremy Grantham, and Alvaro Aguirre to start Folium Capital in Boston. Folium Capital is at least the second firm started by former Harvard managers in the past year amid a leadership shakeup, staff cuts and the departure of top talent at the $37bn endowment.

David Ma, 36,a former partner at Hillhouse Capital Group, a China-focused fund known for its big, long-term bets on China's fast-growing technology companies, has started a new investment firm that is expected to attract strong interest, according to WSJ.com. Ma left $20bn Hillhouse Capital at the end of 2014 after seven years at the firm. ......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.