Third Party Marketer Plans Expansion

Aug 27 2009 | 9:58am ET

Third party marketing firm Hudson, Riley Asset Counsel is expanding its operations and planning six new hires by year end.

The two owners of the firm, Leonard Chaikind, a former administrator for Shell Oil Company’s pension plan, and Joseph Nodarse, a former pension consultant and fund raiser, have rejoined forces to raise capital for alternative funds. The pair will be expanding Hudson, Riley’s footprint from Houston, Texas and Miami, Fla., where the firm currently has offices, to the Cayman Islands and Bermuda.

“The alternatives sector, which of course includes private equity, hedge funds and funds of funds, will be greatly sought after by institutional investors, especially the firms which not only survived but have succeeded through this rough economic patch,” Nodarse told FINalternatives.

“Investors are seeking consistent returns and are realigning their interest with those of the investment managers and vice versa,” he added. “There is a new ‘normal’ way of doing business which will be beneficial to the institutional community in whole.”

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