Hatteras Snags Former Ivy Exec.

Jul 17 2009 | 1:33am ET

Alternative investment firm Hatteras Funds has named Robert Murphy director of risk management for Alternative Investment Partners. Hatteras agreed to acquire a majority stake in AIP last week and the deal is expected to be completed in August.

Murphy, who was a former managing director at Ivy Asset Management, will be responsible for risk management for the AIP mutual funds, which provide a fund-of funds strategy in open-end mutual funds. Murphy will also be responsible for creating, maintaining and improving risk reporting for investment related activity at the firm.

“Bob Murphy brings a wealth of hedge fund and risk management knowledge to the Hatteras team,” said Hatteras CEO David Perkins. “His 26 years of experience will add value for our clients bringing them best-in-class risk reporting and consulting, and he will help develop new products that should meet the needs of this new era of financial services.”

Hatteras and its affiliated entities were founded in 2003 and manages $1.3 billion.

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