FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–Dec. 2, 2003–Global Partners Group (GPG), a diversified financial services firm headquartered in Fort Lauderdale, Florida, has named Larry Ortega VicePresident of Institutional Portfolio Development in its asset management division. One of the areas of specialization for GPG is carefully selected alternative investment products with a primaryfocus on hedge funds and fund of hedge funds.
Based out of the firm’s New York City offices, Mr. Ortega’s responsibilities include assisting institutional investors in developing portfolio strategies specifically designed to preserve capital, maximize returns and minimize risk. He is a seasoned executive with strong experience in risk management and portfolio design, corporate fund raising, technical trading and the hedge fund and alternative investment industry. Previously he was Managing Director for VTEK, a futures hedge fund based in Chicago.
“Global Partners Group has seen a growing interest in absolute return strategies by the institutional investor community worldwide,” stated Salomon Konig, Partner of GPG. “Larry Ortega’s appointment displays the high importance we attach to effectively serving the needs of high net worth advisors, private banks, endowments, pensions, and insurance companies.”
According to Goldman Sachs and Russell Investment Group’s 2003 Report on Alternative Investing by Institutions, participation in hedge funds has increased to 25% worldwide from 17% in 2001. Commitments have also increased substantially, up 40% in North America, 65% in Europe, and 200% in Japan. Worldwide, commitments to hedge funds by pension funds, endowments and foundations top US$22 billion.
GPG distributes The Market Wizards family of funds, managed by UK based Fortune Asset Management and co-advised by the legendary hedge fund analyst Jack Schwager and his colleagues at Global Fund Analysis. Mr. Schwager is well known for his best-selling Market Wizards series of books and Global Fund Analysis is one of the pre-eminent names in manager selection and fund evaluation. These multi-manager funds operate with over 30 subsidiary managers, diversified across strategy, asset class and sector focus. They are available in different share classes to accommodate investors with different base currencies and are available in unleveraged and leveraged classes. The multi-manager funds have also been approved by leading life assurance companies.
About Global Partners Group
Global Partners Group is a diversified financial services firm with principal offices in New York, Fort Lauderdale, and Caracas and is represented by International Associates in major financial centers around the world.
The firm, through its operating subsidiaries and divisions, offers institutional asset management, electronic trading platforms, trade execution services, and hedge fund incubator and emerging manager programs. For additional information, please visit http://www.globalpartnersgroup.com.
This press release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933 or Section 21E of the Securities and Exchange Act of 1934 and is subject to the safe harbor created by these sections. Global Partners Group assumes no obligation to update the information contained in this press release. Certain information included herein may contain statements that are forward-looking, such as statements relating to plans for future expansion and other business development activities as well as operating costs, capital spending, financial sources, and the effects of competition. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results. Accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Company. This notice does not constitute an offer to sell in any jurisdiction where it is not permitted.
