Advent reaches peak assets in the US, completes new hires
New York, October 1, 2018 – Advent Capital Management, LLC (Advent), a firm focused on convertible bonds, high yield, and specialist credit investments, today announced that after reaching peak assets of approximately $9.5 billion*, it is bolstering its team with several new hires and promotions to meet global demand.
Advent recently strengthened its team in London by adding Alastair Smith as Managing Director of business development. With 25 years of experience, Alastair is a veteran of the specialist investment management industry, having worked at the Man Group, GAM and Polar Capital.
“It is an honor to work with the best convertibles team in the world and to bring the firm’s expertise to European institutional investors,” said Alastair. “I look forward to leveraging Advent’s strong absolute and relative performance, commitment to delivering high-quality investment management solutions and excellent client service to fuel expansion and growth.”
Alastair’s hire comes as Advent continues to see formidable growth with increased institutional demand for convertible bonds, high yield, and specialist credit. There continues to be particular interest in convertible bonds from investors who wish to benefit from consistent economic and market growth while also closely monitoring capital preservation and risk protection. Historically, convertible bonds have thrived in periods of rising interest rates and increased volatility, and coupled with this year’s strong new issuance, convertible bond investors are seeing a number of compelling opportunities.
Tracy Maitland, President and CIO, observed, “Advent‘s suite of products are geared towards helping investors who seek to continue to participate in equity market appreciation while never losing sight of the need to protect capital on the downside. Deep, fundamental bottom up credit analysis is and always served as the backbone of each of our investment strategies.”
Advent also recently hired David Moore, who comes to Advent for a second time, as Managing Director in London, along with Ian Mahoney, who joins David’s team as a trading assistant. The team intends to continue to build out its European team with further hires in investor relations and Northern European distribution.
In addition, Advent has made changes to its U.S. team to ensure it is best-suited to meet rising global demand. Tony Huang, who has been with Advent for over 11 years, has been promoted to Associate Portfolio Manager for the Global Balanced Strategy and Global Phoenix Strategy. Tony previously served as both an Associate Portfolio Manager for Advent’s closed end funds and as Technology analyst. Prior to joining Advent, Tony held similar responsibilities at Essex Investment Management and Fidelity Investments.
With Tony’s promotion, the strategies will continue to follow the same disciplined investment process that has been employed since inception. Said Tony, “I’m looking forward to continuing to serve Advent’s institutional investors, building on the strong analytical, research and portfolio management foundation of more than 20 years, and bringing my own fresh insights and energy to this important asset class.” Additional resources will also be added to the firm’s research team as a result of Tony’s promotion.
*As of September 30, 2018
Advent Capital Management, LLC was founded in 1995 and actively manages approximately $9.5 billion across alternative and traditional strategies. Advent’s team consists of 60 employees in New York and London, including 21 seasoned investment professionals performing bottom-up fundamental research and capitalizing on opportunities on a global scale.
Advent has generated compelling annualized risk‐adjusted returns across all strategies since inception and its client base includes some of the world’s largest public and corporate pension plans, foundations, endowments, insurance companies and high net worth individuals.
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Paul Merchán; firstname.lastname@example.org; 212-931-6172