Morgan Stanley’s former securitisation head, Craig Phillips, has emerged in the capital markets arena as founder, chairman and chief executive of a new alternative asset management firm, Ptarmigan Capital, focusing on real estate related investments in India and the US, says Financial News. Phillips, who left Morgan Stanley about 18 months ago, told Financial News that India’s southern region was showing an unprecedented level of demand in the residential and commercial real estate sectors.
Moody’s is boosting its European hedge fund ratings business, hiring Odi Lahav to manage what it said was an important and growing part of its business. The appointment comes as the credit ratings agency is building its assessment of operational risk as well as credit risk relating to hedge funds. Lahav was previously hedge fund ratings director at Allenbridge Group, a research and consulting firm specialising in hedge fund and funds of funds analysis.
Boutique investment bank Perella Weinberg has added another partner to its fledgling asset management business a week after recruiting former University of Texas activist fund manager Bob Boldt, says Financial News. David Zusman joins as a partner based in New York and will lead Perella’s equity strategy in basic materials, consumer, energy, industrial and utilities sectors. Zusman was previously a partner at hedge fund BrightStream Asset Management. Veteran Wall Street mergers and acquisitions banker Joseph Perella established the firm last year after leaving Morgan Stanley.
Fund manager Morley has signalled its interest in expanding in China, taking on Walter Lin as head of strategic development for the country. Lin, who joined Morley last month, will be responsible for setting up an asset management presence through a joint venture vehicle that is to be determined. “The Chinese asset management market currently manages $125bn of assets but is growing rapidly in line with the overall Chinese economy. Liberalisation of the markets will broaden further the opportunities for domestic and foreign investors”, said Morley’s chief operating officer Nick Alford.