Gottex Brokers Alternative, a broker in the secondary markets for alternative investments, has opened an office in New York.
The firm, which already has an office in Los Angeles, said it has expanded to the East Coast in response to demand for its services.
Michael Smith has joined the New York office from UBP Asset Management where he was a managing director and senior portfolio manager specializing in commingled fund-of-funds products. He will report to Bruno Bardavid in GBA's Los Angeles office.
Said Raphaël Moreno, CEO of GBA's parent company Gottex Brokers: “The secondary hedge fund market remains very active; there is currently a lot of interest more than five years after the crisis. We believe that the growth in secondary markets for illiquid assets is a long-term trend. Private equity is set to become a key area of interest, and because of this we have ensured that we have the people and infrastructure in place to support our clients moving forward.
Established in 2009, GBA is headquartered in Lausanne, Switzerland.