Man Group has reportedly hired Jonathan Sorrell away from Goldman Sachs. According to the New York Times, Mr. Sorrell previously headed up Goldman’s Petershill fund, a private equity fund that invests in and seeds hedge funds. Sorrell will join Man Group as the hedge fund behemoth’s Head of Strategy.
The move suggests that the Man Group will likely expand its hedge fund of funds and seeding activities. In 2010, the Man Group acquired GLG Partners, further diversifying its strategy mix, while also solidifying its place as one of the world’s largest hedge fund firms with more than $70 billion in assets.
Some of Goldman Petershill’s more notably past investments include stakes in Christopher James’ Partner Fund Management, Claren Road Asset Management, Chris Shumway’s Shumway Capital Partners and Level Global Investors, which shut-down last year.
Most recently, Petershill revealed that it had purchased a minority stake in Pennsylvania-based Mount Lucas, which reportedly has $1.8 billion in asset under management. |
