Hedgebay, which provides access to the secondary hedge fund market, has promoted Lindsey Clavel to managing director for Europe.
In her new position, Clavel will be responsible for determining the strategic direction and growth of the Hedgebay business. She will also have responsibility for Hedgebay’s operations in MENA and Australasia.
Prior to joining Hedgebay in 2005, Clavel spent 10 years running the metals trading desk of an Italian industrialist’s family office. Before this, Clavel had served for a number of years with the Foreign and Commonwealth Office in the Middle East.
Clavel was appointed to lead Hedgebay’s business development in the UK and Europe last June and saw the firm pass the US$5 billion watermark for completed transactions.
Said Clavel, “There is a lingering perception among those familiar with the secondary market that it is only useful for managers exiting illiquid positions. In reality, our service is most effective when used as a day to day trading tool. One of my top priorities will be to get the message out there that Hedgebay provides a hugely valuable service for people in sectors across the financial services industry.”
Hedgebay co-founder Elias Tueta, who previously executed these responsibilities, will move into more of an advisory role.
Founded in 1999, the Nassau-based Hedgebay Trading Corporation helps match sophisticated buyers and sellers of hedge fund interests and other illiquid alternative investment assets.