Monday, 25 July 2016
Last updated 36 min ago
Jul 2 2008 | 2:00am ET
Singapore-based investment firm 3 Degrees Asset Management has hired Michael Gilmore as a managing principal, responsible for overseeing the firm's daily operations. He will also sit on the investment committee and act as a portfolio manager of the ADF Special Opportunities fund, a private equity offering.
Gilmore was previously head of Indonesian research for UBS, having earlier held the same position at DBS Securities.
“He joins at a time when global default rates are rising and equity markets are hitting bear territory,” said Moe Ibrahim, founder. “As default rates rise, equity valuations will collapse, creating an opportunity to acquire world-class Asian companies at fire-sale valuations.”
The firm currently manages more than US$400 million in assets, including US$80 million in its flagship Asian Debt Fund.