Hedge funds-of-funds manager HFA Asset Management has made additions to its sales team across three states.

Oscar Martinis, HFA head of distribution, said the company had hired business development managers in Queensland, Victoria and Western Australia. Luke Fletcher, previously a BDM with international real estate investment manager MacarthurCook Limited, has joined HFA in Melbourne, while Fred Gumibeau, formerly a product manager with CBH Group, has taken a position with HFA in Perth. Both Fletcher and Gumibeau joined the manager in July. Martinis would not name HFA’s new hire in Brisbane since they had not yet resigned from their current occupation. HFA employs 10 BDMs in Australia. Meanwhile, HFA announced last week that its merger with US manager Lighthouse Investment Partners LLC was proceeding, after receiving a credit approved loan from a major bank which, with additional equity financing, could close the deal. However, both companies agreed to suspend completion of the merger “until appropriate equity values in HFA are restored” in the stockmarket, HFA said in a statement.