GSAM Snags Richard Quigley From Albourne Partners

(September 23, 2011) — Goldman Sachs Asset Management has announced that Richard Quigley has joined its New York-based Alternative Investments & Manager Selection (AIMS) Group, which offers investors advisory solutions in alternative investments across private equity and hedge fund managers.

At AIMS, he will serve as Managing Director and Head of the group’s Advisory Solutions. Previously, Quigley was a partner and global head of portfolio advisory at Albourne Partners, an investment consultant.

“Whether encouraged by the potential to enhance returns or mitigate risks, investors are increasingly exploring hedge funds and private equity as part of their investment programs,” Christopher Kojima, Global Head of the AIMS Group for GSAM, said in a statement. “We are excited that Richard Quigley has joined our team, bringing our clients the benefit of his extensive advisory experience.” He added: “Comprehensive manager diligence, dynamic portfolio construction, and robust risk management are all essential ingredients for success. Some investors have sufficient resources and expertise in these areas, while others may look to complement their internal capabilities with our solutions. Our advisory program adds to the suite of alternative investment solutions we provide our clients around the world.”

The drive for investors to increasingly explore hedge funds and private equity as part of their investment programs is apparent as large institutional investors, including the California Public Employees Retirement Scheme (CalPERS) and British Airways Pension Investment Management, become more vocal about their hedge fund needs, reflecting a greater urgency following the financial crisis that hedge fund managers’ interests are aligned with theirs.

While hedge fund performance suffered during the financial crisis, the sector is now playing an increasingly important role among institutions. In early May, for example, research by Preqin showed 94% of institutional investors who currently use hedge funds are likely to increase their commitment over the next three years. The increased use of hedge funds among institutions coupled with a tougher regulatory environment have pushed pension funds, endowments, and other investors to write a 42-page guide to help hedge fund managers better understand investor needs. The guide, which described itself as a reference for hedge-fund managers, provided suggestions that ranged from the size of the fund’s board to the timing of hedge fund reports. The aim of the guide was to outline investor views, expectations, and preferences on a range of operational and organizational issues, which are increasingly the focus of due diligence reviews and discussion among investors and fund managers, London-based Alternative Investment Management Association (AIMA) said in a release.

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