Cinctive Capital Management is expanding its multi-manager hedge fund platform with a new office in West Palm Beach and the appointment of two veteran portfolio managers who will focus on investments in the healthcare and technology sectors.

The New York-based alternative investment firm said the new West Palm Beach office will open on 1 August, extending its presence into one of the fastest-growing hubs for investment management firms and family offices in the US.

The expansion is intended to help Cinctive access investment talent in the region and build relationships with investors as the firm continues to grow its multi-manager platform.

“We see significant growth opportunities for us in West Palm,” said Rich Schimel, co-founder and co-chief investment officer of Cinctive. “The area is rapidly growing, becoming a prominent and dynamic financial hub and an attraction for investment talent.”

Cinctive has also hired Rob Gupta and Brian Sapanski as portfolio managers, strengthening its healthcare and technology investment teams.

Gupta joins from AB Arya Partners, where he was a portfolio manager, and brings more than 15 years of experience investing in healthcare companies.

Sapanski, who also has more than 15 years of investment experience, was most recently a portfolio manager at Interval Partners and specialises in technology investments.