GAM Ramps Up Asset-Backed Initiatives With New Hire

Apr 23 2007 | 10:24am ET

Globefin Asset Management, investment manager to the Cannonball Funds, has hired Andrew Hoffman as a managing director to head the firm’s newly formed Globefin U.S. Advisors, which is opening offices in New York.  Hoffman joins the Cannonball Funds from Asset Alliance in 2006 where he launched an asset-based FoHF. He will spearhead research on asset-backed strategies from New York.

“We are delighted to welcome Andrew to the team and recognize that seasoned talent capable of great value-added in the asset-backed strategies field is very rare,” said Federico Moccia, managing director of GAM. “Asset-backed strategies are a vital part of the Cannonball Group’s business and we are fortunate to add a rare pearl to our team.”

GAM offers three fund-of-hedge-fund portfolios with invested assets in excess of $560 million as of April 1.

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