Bennelong Funds Management, the family office and incubator recently expanded by two senior former ING Australian equities managers, has appointed a master custodian.
As first reported in I&T News, Bennelong recruited Mark East and Paul Cuddy from ING and has seeded a fund with master custodian BNP Paribas Securities Services after a review of the market and due diligence on three providers. Paul Cuddy said Bennelong’s initial seeding was “;well north”; of the “;generic amount you read in relation to boutique incubators”;, which Cuddy placed at $10-20 million. Jarrod Brown, Bennelong chief executive, said BNP stood out as “;the team that most wanted to partner with us and illustrated a belief in our strategy”;. Steve Tremelling, BNP head of sales, said Bennelong had significant growth potential. Bennelong aims to support and grow a suite of investment teams offering non-correlated and innovative investment strategies.
15 July 2008 00:00
chief, strategy, correlated, partner, innovative, steve, bennelong, tremelling, cuddy, illustrated, jarrod, strategies
Investments
Rest Super has built its private equity program around a deliberately selective approach to manager and deal selection, favouring a concentrated roster of external partners and proactively seeking out top PE firms rather than waiting for them to come knocking. Head of private markets Marina Pasika unpacks the program’s coming of age and what powered an asset class return more than double the peer average in the last financial year.
Leave a Comment
You must be logged in to post a comment.