Multi-strategy hedge fund pioneer Brummer adds four partners and two new strategies
Brummer & Partners, the long-running Swedish multi-strategy hedge fund firm, has named four new partners and is preparing to add two new sector-specialist long/short equity strategies to its flagship Brummer Multi-Strategy vehicle.
The four new partners added are Jonas Börjesson, Carl-Johan Brodowsky, Markus Wiklund and Henrik Paulsson. Two partners, Kent Janér and Per Josefsson, are leaving the firm.
Börjesson and Brodowsky will share responsibility for investor relations globally. Börjesson joined Brummer in 2008, having earlier worked at Handelsbanken Asset Management and Morgan Stanley, and has been head of IR since 2012, while Brodowsky returns to Brummer & Partners after four years at Keel Capital.
Markus Wiklund and Henrik Paulsson head the firm’s infrastructure and daily operations. Wiklund, deputy CEO of BMS, joined the firm in 1997 and has focused on a number of areas including risk analysis and portfolio construction. Henrik Paulsson joined Brummer & Partners from Nasdaq OMX in 2010. He is the CEO of Brummer & Partners Fund Services and is responsible for developing its in-house infrastructure.
At the same time, the Brummer Multi-Strategy multi-manager fund - which invests in nine single-strategy hedge funds – is also set to add two new sector-specialist long/short equity hedge fund strategies. The funds are currently in the process of receiving regulatory approval.
Established in 1996, the Stockholm-based multi-strategy pioneer BMS currently invests in and analyses nine underlying hedge fund strategies, encompassing 4,000 positions across more than 300 markets.
Brummer Multi-Strategy has risen 1.6 per cent so far this year, with its 2x levered version up 2.8 per cent over the same five-month period to the end of May. Its underlying strategies - which span equities, credit, macro, systematic trend-following and more – have posted mixed performances in 2021. AlphaCrest, a systematic equity strategy, has soared around 11 per cent year-to-date, though Black-and-White, a long/short fund, has lost roughly the same amount.
Welcoming the new partners, founder and chairman Patrik Brummer, said: “Our task is and always will be to generate competitive risk-adjusted returns over time. Brummer Multi-Strategy lies at the centre of our asset management activities; as the strategy evolves and improves, its complexity also increases.”