Hatteras Funds, a provider of alternative investment solutions for financial professionals, has appointed Robert Murphy to the new position of director of risk management for Alternative Investment Partners, the investment adviser to AIP Mutual Funds.
On 7 July 2009, Hatteras entered into a definitive agreement to acquire a majority stake in AIP and the transaction is expected to be completed in August.
Murphy will be responsible for risk management for the AIP Mutual Funds, including implementation of a rigorous institutionalized risk management process for the AIP Mutual Funds, which provide a fund-of-hedge funds strategy in open-end mutual funds. Murphy will also be responsible for creating, maintaining and improving risk reporting for investment related activity at the company.
'Bob Murphy brings a wealth of hedge fund and risk management knowledge to the Hatteras team. His 26 years of experience will add value for our clients bringing them best-in-class risk reporting and consulting, and he will help develop new products that should meet the needs of this new era of financial services,' says Hatteras chief executive David Perkins.
Murphy joins Hatteras from Ivy Asset Management, a division of BNY Mellon Asset Management, where he was a managing director working in the Investments and investment products and strategy groups and was responsible for investment research and assisted with product development and portfolio management.
Prior to joining Ivy Asset Management in 2008, Murphy was a partner and director of risk management at Meridian Capital Partners, where he worked in various senior capacities since 2001.
Previously, Murphy held senior fixed income investment banking positions with A.G. Edwards, Cowen, Donaldson, Lufkin & Jenrette and Bear Stearns.