The $300 billion profit-to-member fund has linked up with Oxford Properties for a portfolio of high-quality European industrial and logistics assets that it wants to expand significantly over the next three to five years.
Australia’s megafunds are looking to international asset owners for ideas on how to invest what will soon be trillions in retirement savings. But banks – with their sharp focus on efficient implementation and balance sheet management – could also be a source of inspiration.
Tribeca shores up management for expansion
(pictured: David Aylward)
Tribeca Investment Partners has appointed Chris Daily, who has been with the firm for about five years, as chief investment officer as part of an “infrastructure” building program as the $2 billion boutique looks to expand its investment offerings.
David Aylward, the long-standing managing director and head of the firm’s small-cap fund, said last week the he would remain at the helm of Tribeca’s fundamental equity strategies but that the new absolute return areas and international investing required an additional focus.
“Chris [Daily] is already in charge of absolute returns strategies, overseeing what we do in that total return space, and he will now oversee our investment process infrastructure,” he said. “It largely reflects what he was already doing but we thought it was time to put the position in place formally.”
Aylward said nothing had changed in terms of the portfolio management of the firm’s funds and strategies. Recent additional staff included Peter Moore who has joined the quantitative team and Craig Evans as a consultant to the global total return fund. Alexandra McGuigan was recruited earlier last year as head of client relationships and marketing.
Kylie Osgood, the chief operating officer and a director, oversees the business operations for both front and back office.
Daily joined in 2011 from Barclays Global Investors (now BlackRock) where he had most recently been global head of investment process. He has been supporting Sean Fenton’s quant efforts for the firm as well running the global fund, which was launched the year he joined. Fenton steers the ‘Apha Plus’ Australian equities fund, which includes about 20-30 per cent shorting.
The other recently launched fund is also global – a global resources fund.
Aylward said an expansion of the range was likely in the future, although new products would likely remain in the niche and alpha-seeking strategies.
“A big part of what Chris will be doing going forward is further globalizing our infrastructure, including all our information sets, to allow for this. I’d like to do something globally on the fundamental side, too,” he said. “It’s taken us two years to put the infrastructure in place to trade globally. Now we’re ready to go.”
About half of Tribeca’s funds under management reside with the successful small-cap fund, which is partially closed to new investments.
