Partners Group Adds Risk Management Unit

Partners Group, a Switzerland-based global alternative asset shop, is beefing ups its risk management with a new unit. The new group combines the portfolio management and risk management activities with those of the former alternative strategies unit.

Tilman Trommsdorff, partner, will take responsibility for the new department. He will be appointed as member of the executive board effective Jan. 1. As a result of this organizational change, Michel Jacquemai, partner and head of the former alternative strategies unit, will no longer be a member of the executive board of Partners Group, but he will continue his responsibilities within absolute return strategies.

Many hedge fund firms have been taking a close look at their risk management practices following the revelation earlier this month that many financial firms were victims of the alleged Bernard Madoff Ponzi scheme. Partners Group released a statement saying that it did not have any exposure to Madoff-managed funds.