Brummer Manager Leaves Again For Swedish Pension

Sep 12 2013 | 10:18am ET

A top Brummer & Partners hedge fund manager has left the firm to return to Sweden's state pension fund.

Kerim Kaskal was named chief investment officer of Tredje AP-Fonden, which has €28 billion in assets. He'll take up the role on Oct. 1, retunring to the pension, when he was head of asset management from 2005 through 2008.

It is also the second time that Kaskal has left Brummer for AP3; he worked at the hedge fund from 1998 through 2004, and since 2008 has been CIO of its macro and fixed-income division, Nektar Asset Management.

Brummer has made four hires in the wake of Kaskal's return to AP3. Former portfolio manager Torbjörn Olofsson has returned as executive chairman. In addition, three new portfolio managers, including two—David Hong and Panich Prompat—to serve as Nektar's first feet on the ground in Asia, based at Brummer's Singapore office. In addition, Goldman Sachs veteran Magnus Hallengren has joined the firm as a portfolio manager in London.

Hong was most recently head of foreign exchange and emerging market in Hong Kong for Morgan Stanley.

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