FINANCE: Aberdeen Asset Management has restructured its alternatives division, leading to a number of departures, including global property multi-manager Jon Lekander.
The fund manager has completed the overhaul, which sees the property multi-manager team integrated into the £11bn alternatives unit following its £550m takeover of rival Scottish Widows in April.
Andrew McCaffery, as head of alternatives, will lead the new unit, which now includes four specialist investment desks – for real estate, hedge funds, private equity and infrastructure.
Three of these follow a multi-manager approach, researching and investing in: hedge funds/liquid alternative strategies; private equity funds and co-investments; and property funds.
The fourth desk is responsible for direct investment into infrastructure projects.
As part of the reorganisation, the property multi-manager (PMM) team has been restructured and the business management function within it will be centralised to a divisional function across the alternatives unit.
Consequently Jon Lekander, global head of indirect investment management, has “decided to pursue opportunities”, said Aberdeen.
The PMM team now comprises a dedicated investment desk to focus purely on investment management and manager research.
These activities will be led by the regional heads, Mark Wilkins for EMEA, Puay-Ju Kang for Asia Pacific and Katherine Giordano for the Americas.
Puay-Ju is chair of the PMM investment committee, and will take the lead for the PMM investment team.
Aberdeen said that as a consequence of this realignment, head of global markets Karin Koks, head of investments, PMM Antonio Alvarez and global head of investment analysis, PMM Markus Steinby will leave their current roles.
McCaffery said: “The goal of this transition is to build on the strengths of the PMM team – including high-quality research and investment management – while harnessing other alternative strategy and asset capabilities within the broader alternatives offering.
“As a result of this and other initiatives, Aberdeen will further enhance its position as a premier alternative investment provider within the asset management industry.”
bridget.o’connell@estatesgazette.com
