US / GLOBAL - Tremont Advisers is targeting institutional investors as part of a drive to grow its global alternative investment business, and has made two new appointments to its marketing department as a result.
Tremont, a subsidiary of the US mutual fund giant OppenheimerFunds, has hired John Hock from Alpha Investment Management as senior vice president of institutional sales. Judith Peterson, the other new arrival and a former business consultant, was hired as vice president and director of marketing and communications.
Hock will report directly to Robert Schulman, president and co-chief executive officer of Tremont, and his main priority will be building the firm's presence with institutional clients around the globe. Institutional investors currently comprise around 10% to 15% of the hedge fund industry’s assets according to Tremont, and it believes that this will - at the very least - double within the next five years.
Tremont’s chief operating officer, Barry Colvin, said: We recognise there will be great opportunities to grow our business as new entrants become involved in alternative investments in the next few years. Hiring John and Judith assures that we continue to be well positioned to attract this business and to service our existing client base.
Tremont is based in New York, and has offices in Toronto, Bermuda and London.
By Geoffrey Ho
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