Jason Siegel, the former head of Brookfield Asset Management’s multi-strategy hedge fund platform, has joined BW Gestão de Investimentos (BWGI), the investment office of Brazil’s billionaire Moreira Salles family, according to a report by Bloomberg.

The report cites unnamed sources familiar with the matter as revealing that Siegel will lead a newly formed equity multi-strategy team for BWGI, based in New York.

Joining Siegel are Aaron Hara and Kristin Willoughby, also former Brookfield executives, along with Rob Levites, who previously worked at Weiss Multi-Strategy Advisers. BWGI has reportedly allocated $2bn for the new team’s investment strategy.

BWGI, headquartered in São Paulo, manages approximately $11bn in assets as of its latest annual report in March. The firm oversees the wealth of the Moreira Salles family, whose net worth exceeds $26bn, according to the Bloomberg Billionaires Index. The family’s holdings include major stakes in Itaú Unibanco Holding SA, power company Eneva SA, and niobium producer Cia Brasileira de Metalurgia e Mineração. They have also invested in French firms Elis SA and Verallia SA and manage the Mantiqueira hedge fund.