BFAM Partners, the $3 billion Asia-focused hedge fund set up by Benjamin Fuchs, has hired two experienced portfolio managers from rival Hong Kong asset managers, one for its equity-linked team and the other to cover fixed income, AsianInvestor can reveal.
Nicola Nicoletti, former chief investment officer at EIP Alpha, joined the multi-strategy manager as it makes a push to increase its equities focus, said a source familiar with BFAM. Nicoletti now covers equity market-neutral multi-strategy, bringing up to six the team that covers equities and convertible bonds, added the individual, who asked not to be named.
Nicoletti's regulatory licence at BFAM started on November 1, according to Securities and Futures Commission (SFC) records. He had spent a decade with EIP, which has around $400 million in AUM across exchange-traded funds and active strategies.
EIP brought in Daniel Turner from Bank of America Merrill Lynch as a replacement last month in the post of head of trading, according to his LinkedIn page. He told AsianInvestor that his role is similar to Nicoletti’s previous position in that he heads the investment side of the business for EIP, reporting to chief executive Toby Bland.
At BoA Merrill Turner was Hong Kong-based managing director of equities trading and before that was co-head of Asia equity derivatives trading at Morgan Stanley for eight years. He also traded equity derivatives at UBS in London.
Meanwhile, Job Campbell, formerly a fixed-income portfolio manager at Income Partners, another Hong Kong fund house, also saw his SFC licence with BFAM start on November 1. He had been with Income Partners since 2003, according to the licence records.
Fuchs, CIO and CEO of BFAM, could not be reached for comment by press time, but his LinkedIn page indicates he is looking to hire. “I am looking for exceptionally talented individuals who thrive in a high pressure, high performance environment and love the challenge of global financial markets,” he said. "Feel free to contact me if that description fits you."
BFAM specialises in “extracting value across the capital structure” and its strengths include credit, volatility and convertible bonds, added Fuchs.