KKR & Co., the leveraged-buyout firm led by Henry Kravis and George Roberts, hired Morgan Stanley’s Henry McVey to advise it on macro-economic trends.
McVey, who will be head of global macro and asset allocation, will help KKR and its clients assess global economic issues across the firm’s businesses, including private equity and hedge funds, New York-based KKR said today in a statement. Cyril Moulle-Berteaux, a founding partner of hedge fund Traxis Partners LP, is replacing McVey as head of the global asset- allocation team at Morgan Stanley, the New York-based bank said in a separate statement.
KKR is adding to new businesses as it seeks to woo public investors who want to see more diverse income streams. At Morgan Stanley, McVey oversaw $8 billion in tactical asset allocation and global macro-related products, including a $100 million hedge fund that started in June. McVey will help KKR build a similar business over time, according to the statement.
“At any given time, we have a diverse portfolio that offers unique insight into the business environment,” Kravis and Roberts said in the statement. McVey’s “work will inform our investment processes across the firm while also adding a macro and asset-allocation investing capability.”
McVey’s role will eventually evolve into raising money for a dedicated pool that will express his views. The firm has no plans to launch the fund in the near-term.
McVey, 42, left Morgan Stanley for two years in 2007 to become a portfolio manager at New York’s Fortress Investment Group LLC, focusing on global equities. Before leaving the first time, he was chief U.S. investment strategist at the bank, where he started as a research associate in 1993.
Hedge Funds
KKR is building non-LBO businesses with several hires. The firm is getting into hedge funds through its asset-management business, headed by William Sonneborn, 41, formerly the president of Los Angeles-based money manager TCW Group Inc. KKR seeded a group of former Goldman Sachs Group Inc. traders with $100 million. The team is led by Bob Howard and will pursue a long-short equities strategy that allows managers to bet on rising and falling stocks.
Moulle-Berteaux, 41, worked at Morgan Stanley Investment Management from 1995 until 2003 in various roles, including head of the asset-allocation team, head of asset allocation research and research analyst.
“We are thrilled to have Cyril and his level of institutional investment talent back,” Greg Fleming, president of Morgan Stanley Investment Management, said in the statement. “Cyril’s return is consistent with our commitment to investment excellence and to growing as an investor-led organization.”
Source: www.bloomberg.com
McVey, who will be head of global macro and asset allocation, will help KKR and its clients assess global economic issues across the firm’s businesses, including private equity and hedge funds, New York-based KKR said today in a statement. Cyril Moulle-Berteaux, a founding partner of hedge fund Traxis Partners LP, is replacing McVey as head of the global asset- allocation team at Morgan Stanley, the New York-based bank said in a separate statement.
KKR is adding to new businesses as it seeks to woo public investors who want to see more diverse income streams. At Morgan Stanley, McVey oversaw $8 billion in tactical asset allocation and global macro-related products, including a $100 million hedge fund that started in June. McVey will help KKR build a similar business over time, according to the statement.
“At any given time, we have a diverse portfolio that offers unique insight into the business environment,” Kravis and Roberts said in the statement. McVey’s “work will inform our investment processes across the firm while also adding a macro and asset-allocation investing capability.”
McVey’s role will eventually evolve into raising money for a dedicated pool that will express his views. The firm has no plans to launch the fund in the near-term.
McVey, 42, left Morgan Stanley for two years in 2007 to become a portfolio manager at New York’s Fortress Investment Group LLC, focusing on global equities. Before leaving the first time, he was chief U.S. investment strategist at the bank, where he started as a research associate in 1993.
Hedge Funds
KKR is building non-LBO businesses with several hires. The firm is getting into hedge funds through its asset-management business, headed by William Sonneborn, 41, formerly the president of Los Angeles-based money manager TCW Group Inc. KKR seeded a group of former Goldman Sachs Group Inc. traders with $100 million. The team is led by Bob Howard and will pursue a long-short equities strategy that allows managers to bet on rising and falling stocks.
Moulle-Berteaux, 41, worked at Morgan Stanley Investment Management from 1995 until 2003 in various roles, including head of the asset-allocation team, head of asset allocation research and research analyst.
“We are thrilled to have Cyril and his level of institutional investment talent back,” Greg Fleming, president of Morgan Stanley Investment Management, said in the statement. “Cyril’s return is consistent with our commitment to investment excellence and to growing as an investor-led organization.”
Source: www.bloomberg.com
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