GLG Partners, the investment manager division of the Man Group, has hired a long-short equities team in Asia.
Based in Hong Kong, the team will be co-managed by David Mercurio, head of Asia equity and co-head of global equity strategies and Ben Freischmidt, risk specialist. Mercurio joined GLG in September 2011 from the Government of Singapore Investment Corp, while Freischmidt joined in March 2012 from Singapore-based LionRock Capital, which he co-founded and helped run as COO.
Under Mercurio and Freischmidt will be four sector specialists: David Walsh, formerly of Optimal Fund Management, industrials; Nick Vidale, formerly of CLSA in Hong Kong, financials; and Sahil Khanna, formerly of Geosphere Capital, consumer and TMT. Carl Esprey, who has been with GLG since 2008, is the team’s materials specialist, based in London.
The team will apply the same stock-picking and risk management approaches GLG currently employs in Europe.
Pierre Lagrange, co-founder of GLG and chairman of Man Asia said in a statement:
“When we started the European Long Short strategy 11 years ago, the environment in Europe looked very like it does in Asia today, with strong longs and shorts likely to emerge. The new team will seek to capture the returns available from dispersion, based on the same processes we have employed successfully in Europe. I am delighted Ben Freischmidt has joined David Mercurio to co-head the team and bring essential risk management skills. We have also gathered four top stock pickers with significant sector and regional expertise. While the decision-making centre for this team will be in Asia, they will draw significantly from the firm’s resources globally, benefitting from and contributing to GLG’s culture of information sharing. I look forward to working with them.”