Home / Uncategorized / Tyndall folds alternatives into mainstream business

Tyndall folds alternatives into mainstream business

Uncategorized

(Pictured: Tim Martin)

Tyndall Asset Management has folded its alternatives business in with the management of core asset classes and made Tim Martin, who headed the unit, redundant. The firm, owned by Nikko Asset Management, has also let go its head of sales and marketing, Matt Russell.

The Tyndall alternatives business, which focused on private debt, was launched by Martin in 2012 after Nikko acquired the boutique manager, Causeway Financial, which he and Mike Davis founded in 2003. Nikko took over the five Causeway staff and appointed Davis as its group chief executive for Australia in 2012.

  • A Tyndall spokesperson said last week that blending the alternatives business with the core teams was the way markets and consultants were headed. The redundancies in the sales and investor solutions teams were part of a global restructure at Nikko AM. Vincent lo Blanco, who joined Tyndall from BlackRock in 2012, is the new head of distribution for the firm.

    Tyndall has been integrating its strategies with those of Nikko in the past couple of years to present a better global offering to the market. It has also expanded in Asia with the purchase of Treasury Group’s Asian equities business and built up a multi-asset offering based in Singapore under Australian manager Al Clark, as reported recently.

    But the alternatives area has proved a struggle, as it is for a lot of Australian-based managers. It seems that super funds prefer US or UK-based hedge fund managers, and increasingly private equity managers, because of better access to international markets. Infrastructure and property remain the exceptions.

    This is an issue which will be discussed, again, at the next annual AIMA conference, which is being held in Sydney on September 16. Australian hedge fund managers have tended to be more successful obtaining funding from local family offices and high-net-worth individuals than super funds, compared with their North American and European counterparts.

    Martin and Davis worked together at Merrill Lunch in the late 1980s, where Martin was involved in trading and private debt markets and Davis headed up the former Merrill Lynch Investment Management. They formed Causeway with the aim of helping medium-sized companies raise private debt funding due to lack of interest in that sector by the big banks.

    Matt Russell, meanwhile, was head of institutional sales for Tyndall until 2012, when he was promoted to head up all sales and marketing across the firm.

    Investor Strategy News




    Print Article

    Related
    Emerging market resilience paves the way for new opportunities says Amundi

    Despite recent China woes, emerging markets are poised to enjoy a growth advantage over developed peers, creating opportunities for investors across all major asset classes. Countries in Latin America are paving the way for a bout of monetary policy easing in the second half of the year; the prospect of lower interest rates has helped…

    Investor Strategy News | 1st Aug 2023 | More
    Mercer adds new wealth Pacific CEO role to support growth strategy

    The appointment of industry veteran Cathy Hales, who started in the newly created role on Monday, will support Mercer’s growth strategy across investments and retirement in the Pacific region, the company said. Her remit will include the $63 billion Mercer Super Trust.

    Lisa Uhlman | 26th Jul 2023 | More
    Global pensions sketchy on net zero

    A survey of 50 global pension funds shows that many are losing hope of achieving their net-zero goals, and the sector is still “in the foothills” of the transition.

    Lachlan Maddock | 13th May 2022 | More
    Popular