By Claire Makin
In early 2009, with parts of the hedge fund industry poised to implode, global investment consultant Mercer calmly set about expanding its new alternatives manager research boutique. Far from seeing a dramatic drop-off in hedge fund searches by pension fund clients, Mercer continued to work on assignments to select managers and construct hedge fund portfolios.
“We saw client activity continue, and we committed resources to growing the group,” confirms David Kaposi, who heads Mercer’s alternatives boutique from the firm’s Toronto office.
Just how serious Mercer is about growing its alternatives business can be seen in the number and calibre of people it has hired in the past two years. Two people were added to the team in 2009, and nine more in 2010, bringing the total up to 26.
In May 2010, Mercer appointed Bill Muysken to a new role as chief...