Mariner Investment Group, an alternative asset manager, has launched the Mariner Incubation Fund, a multi-strategy fund to be managed by investment talent from across the hedge fund industry.
Eric Pellicciaro, former head of global rates investments at BlackRock, has joined Mariner to manage a global macro portfolio, called Alarium Mariner Global Macro, within the new Mariner Incubation Fund.
The Mariner Incubation Fund, currently a fund-of-one, will fund talent in areas that the firm considers investment opportunities and give Mariner a new, efficient structure for incubating new managers. Managers will oversee portfolios with initial investments ranging from USD50m to USD100m on behalf of the fund.
"Mariner takes an investment-led approach to our mandates, and the Mariner Incubation Fund reflects our latest thinking on where the opportunities lie in the rate, credit and equity markets," says Bracebridge Young, Mariner's chief executive officer. "The Mariner Incubation Fund builds on Mariner's long history of attracting top industry talent, like Eric, and provides them with access to our global base of large institutional and sovereign wealth clients and retail distributors, in addition to the safeguards and infrastructure they need to succeed. Eventually, we anticipate developing new funds for a number of the portfolio managers who will be part of the Mariner Incubation Fund."
The Alarium Mariner portfolio will use a global macro strategy that draws on Pellicciaro's 17 years of experience in fundamental macro and fixed income investment management. The investment approach couples fundamental research with systematic and quantitative methods across the broader G20 liquid market segments. In the future, Mariner also plans to launch the Alarium Global Macro Fund as a stand-alone fund to be managed by Pellicciaro.
"Mariner's 20-year tenure in the alternative asset management business provides skilled professional expertise and a robust infrastructure that is very attractive," says Pellicciaro. "It offers a rich environment for cultivating investment ideas and new investment opportunities."