NEW YORK (HedgeWorld.com) – Key Asset Management has formed a strategic alliance with New York-based manager Papamarkou Asset Management, which provides investments services to high-net-worthindividuals and families, endowments and foundations, pension funds and trusts.
At the same time, Key Asset Management USA Director Karl Wellner was appointed president and chief executive of Papamarkou. The alliance allows Papamarkou’s clients access to Key’s hedge funds of funds in addition to complementing Papamarkou’s offerings through its alliance with Fayez Sarofim, a Houston-based large-cap growth manager. Papamarkou has US$2 billion in assets under management.
Christopher Schumacher also joined Key/Papamarkou as a research analyst and is involved in researching U.S.-based hedge fund managers and assisting in asset allocation. He was a senior investment analyst responsible for asset allocation, performance and attribution analysis with Cambridge Associates LLC, a Boston-based investment-consulting firm.
In London, Key recently hired marketing/client services executive Nicola Purkait.
Key has more than US$700 million in assets under management and advice. Much of those investments are in hedge funds. Those vehicles include: Key Hedge Fund Inc.; Key Global Inc.; Key Asia Holdings Inc.; Key Europe Inc.; and Key Gamma Fund. The Key Emerging Markets Inc. is the firm’s only single-manager fund.
