Investcorp’s US-based hedge fund business has appointed Elena Ranguelova as head of credit and equity strategies.
In this newly created role, Ranguelova (pictured) will be responsible for supporting the growth of both investments in emerging managers and the Single Manager Platform, the firm’s hedge fund seeding business.
Before joining Investcorp, Ranguelova served as global head of credit and event driven strategy research at Pioneer Investments, where she also served as a member of the board of directors for Pioneer Alternative Investments New York. Earlier, she ran Goldman Sachs’ fundamental strategies team in New York. In this role, she facilitated investment ideas for institutional clients across credit and equities, as well as advised the firm’s proprietary traders on hedging and portfolio solutions. She began her career as a structured credit strategist with Lehman Brothers.
"Elena has established an exemplary track-record working with credit and equity hedge fund managers throughout her career. Her analytical experience will serve as a great complement to the depth of the Investcorp hedge fund team, and her extensive network on the sell side enhances Investcorp’s ability to evaluate new emerging managers," says Savio Tung, chief executive, North America.
As at 30 June, 2013, Investcorp’s hedge fund group had approximately USD4.2bn under management, including USD2bn allocated to the Single Manager Platform. Through its Single Manager Platform, Investcorp seeks out emerging managers with more nimble investment teams running smaller sums of capital that it believes have the ability to produce returns that outperform their peers. Investcorp assists the manager in growing their business by providing access to institutional and non-institutional investors.
Ranguelova says: "Investcorp was an earlier leader in identifying emerging managers as a source of alpha and the well-established Single Manager Platform serves as a clear point of differentiation. This is a tremendous opportunity to work for a pioneering institution in the hedge fund seeding business, and I look forward to strengthening the hedge fund group’s core investment team."
Investcorp recently announced that Kortright, a New York-based equity event-driven investment manager, is the latest firm to join the Single Manager Platform. Kortright combines a deeply fundamental investment process and an event-driven framework to monetize opportunities arising from corporate change that is overlooked or misjudged by market participants.