AUSTRALIA - Queensland Investment Corporation (QIC) has awarded an Aus$390m (US$341m) emerging markets portable alpha mandate to BlueBay Asset Management.
The transaction between the Australian institutional fund manager and the independent fixed income credit fund specialist was structured by UBS Investment Bank.
QIC head of global fixed interest external managers, David Field, said: “QIC was seeking emerging market alpha, but at this stage of the economic cycle was not necessarily comfortable in being fully exposed to the emerging market beta.”
UBS global co-head of credit structuring, Paul Czeklowski said: “The transaction structure enabled QIC to gain exposure to the alpha-generating ability of BlueBay’s emerging market product with limited beta exposure.”
London-based BlueBay also appointed three staff this week.
Lucien Orlovius joined from law firm Mandel, Katz & Brosnan as general cousel.
Meanwhile, Fred Nada joined from Credit Suisse and Samantha Wessels from Houlihan, Lokey, Howard and Zukin. Both will work as analysts.
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