Ivy Hires Dir. To Head New Asian Operations

Nov 14 2007 | 1:57pm ET

Ivy Asset Management, a hedge fund of funds and alternative investment management firm with over $15 billion in assets, has hired Alex Balfour as managing director, head of client development, Asia (ex-Japan). Balfour will be based in Hong Kong, where the firm expects to open its sixth office in the first half of 2008.

Balfour will report to Patrick Thomson, managing director, and will be responsible for both client development and managing the Hong Kong office.
“With over 40% of the firm’s assets outside of the U.S., we have seen our international business grow dramatically over recent years and now look to Asia as the next critical growth market for bringing the firm to the next level,” said Thompson.

Balfour joins Ivy from Union Bancaire Privée, where he was managing director, head of Asian institutional business. Prior to that, he founded Balfour Capital, an Asian hedge fund, which he ran for eight years. He also spent eight years at Baring Asset Management as a portfolio manager focused on the Japanese markets.

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