Trient Asset Management AS (Trient), headquartered in Oslo, Norway and Tiger Management LLC (Tiger), headquartered in New York City, have announced a strategic partnership to focus on investing in a global macro strategy.
Trient is a new investment company, whose founding partners include Knut Kjaer and Dag Lotveit. Each previously played a significant role in the formation and operation of Norges Bank Investment Management (NBIM), which was established in 1997 to manage the Norwegian Government Pension Fund and Norway's foreign reserves. Kjaer served as NBIM's founding Chief Executive Officer (1997-2008). With assets of approximately USD600 billion, NBIM manages one of the world's largest pension funds.
Julian H Robertson, Jr (pictured), chairman and chief executive officer of Tiger, says: "Tiger is excited about partnering with Knut Kjaer, Dag Lotveit and their exceptional firm. Their proven excellence, experience and integrity provide an ideal fit with the caliber and character we seek in investment managers."
Robertson and Tiger Management, since 1980, have been committed to creating and fostering a culture of investment excellence. In addition to his successful investments, Robertson has demonstrated an ability to identify and develop talented investment professionals, many of whom have become leaders in the alternative investment industry. Since 2000, Tiger has continued this tradition and is a preeminent sponsor of investment managers, with more than USD2bn currently invested with them.
Kjaer says: "Trient has an ambitious agenda to provide global thought leadership on portfolio solutions and implementation. Teaming up with Julian Robertson and Tiger gives us a flying start; Julian's legacy as investor and talent to guide investment teams, is a fantastic inspiration to all of us at Trient."
The global macro strategy will be led by Lotveit, who served as Chief Investment Officer Fixed Income and later as Global Head of Allocation Strategies at NBIM from 1999-2011. He is supported by an experienced team, including Tore Andre Lysebo, who worked with Lotveit at NBIM. The strategy will seek to extract risk premia across asset classes by tactically managing risk. An open architecture of analytics will support the fundamental methodology ensuring clear and open dialogue with clients.
In terms of the strategy, Lotveit says: "Ongoing global integration is being threatened by fundamental structural challenges throughout countries and regions. The tensions between convergence and divergence of economies and markets, and the uncertainty and inefficiencies driven by massive public policy interventions, creates distortions of asset prices. Our team will target investment opportunities where asset prices deviate substantially from their long-term fair values and will exploit the time varying nature of risk premiums and profit from volatility and turbulence in global markets."
The Trient-Tiger strategic partnership will benefit from shared investment knowledge, operational and management skills, and strong execution. With the support of this partnership, Trient will provide clients with advisory and customised portfolio solutions.