The Standards Board for Alternative Investments (SBAI) has appointed Stuart Fiertz, Co-Founder and President of Cheyne Capital Management, and Richard Lightburn, Chief Executive Officer of MKP Capital Management, to its Board.
The SBAI is the global standard-setting body for the alternative investment industry and custodian of the Alternative Investment Standards. The SBAI and the Standards are supported by approximately 200 alternative investment managers and institutional investors who collectively manage USD3.5 trillion.
Dame Amelia Fawcett, Chairman of the SBAI, says: “Stuart and Richard, as prominent leaders in alternative investment management, will bring invaluable insights to our board as the SBAI utilises its unique platform to bring together investors and managers to set industry standards and processes. We are pleased to have them join the board and look forward to their contributions as we continue to stay at the forefront of new developments in alternative investing.”
Fiertz says: “Cheyne is one of the founding members of the SBAI and has been a strong supporter since its inception in 2008, as we strongly believe that robust and constantly improving global standards at alternative investment managers are good for our investors and therefore for our industry. I look forward to working closely with fellow board members and the SBAI to support the group’s activities and bring their benefits to wider audiences.”
Lightburn says: “One of the founding principles at MKP was building an enduring firm, and this has helped MKP successfully navigate and respond to a changing market and industry for over 20 years. Our longstanding support of the SBAI is part of our active dialogue with investors to ensure we fully understand and respond to their needs and concerns as our business and industry evolves. I’m pleased to join the SBAI’s board and actively contribute to the SBAI’s initiatives.”
Fiertz is the Co-Founder, President and Director of Research of Cheyne Capital Management (UK) LLP which invests across the capital structure from the senior debt to the equity of corporates and real estate. From 1991 to June 2000, and prior to establishing Cheyne Capital with Jonathan Lourie, Fiertz worked for Morgan Stanley where he was responsible for the development and implementation of customised portfolio strategies and for credit research in the convertible bond management practice. Prior to joining Morgan Stanley, Fiertz was an equity research analyst for the Value Line Investment Survey, and a high yield credit analyst in Boston at Merrill Lynch and in New York at Lehman Brothers. Fiertz is a CFA charterholder and a CAIA designee. He is also on the board of the CFA Society of the UK, a council director of the Alternative Investment Management Association (AIMA) and chairman of the AIMA Alternative Credit Council. Fiertz was educated at the International School of Geneva and at Dartmouth College where he was awarded a BA degree in Political Science and Economics.
Lightburn serves as Chief Executive Officer of MKP Capital Management, bringing more than 25 years’ experience in financial markets to the role. He is a Principal of the firm and is a member of the Investment Committee. Prior to being named CEO, Lightburn led all of MKP’s global rates and Agency MBS trading strategies at the firm. Before he joined MKP in 2008, he worked for three years as a Managing Director at HSBC Securities, where he managed the prime mortgage trading business. Prior to HSBC, Lightburn worked for 15 years at Goldman Sachs. When he left the firm in 2004, Lightburn was a Managing Director and Co-Head of the Mortgage Liquid Products trading group. Richard received a B.S. in Mechanical Engineering from the Massachusetts Institute of Technology (1989).