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NEW YORK & LONDON-Perella Weinberg Partners today announced that it named three new
partners and added strategic capabilities as it continues to build its
asset management business. The Firm announced that Bob Boldt, Larry
Goldsmith and Susan Soh have joined the Firm as Partners.
The Firm also announced that it will add a new asset management
capability based on the large endowment fund investment model, which
will be marketed under the brand name “Agility.”
This effort will be led by Mr. Boldt, who was previously Chief
Investment Officer of University of Texas Investment Management Co. (“UTIMCO”),
which manages over $20 billion of investment assets for the University
of Texas system. Mr. Goldsmith will join Mr. Boldt, assuming
responsibility for public equity and fixed income markets. Ms. Soh will
lead the marketing efforts for the Firm’s
asset management business.
Terry Meguid, Partner and one of the Firm’s
founders said, “We welcome Bob, Larry and
Susan to our Firm and our team of highly talented investment
professionals. We look forward to the contributions their skills will
bring to the clients of Perella Weinberg Partners.”
Perella Weinberg Partners’ new capability will
be based on the large endowment model of investing, which is
characterized by strategic and tactical allocation decisions across a
wide variety of asset classes, active risk management and risk budgeting
processes, early adoption of high return strategies, and efficient
portfolio construction as measured by risk and return. Over the long
term, this model has proved consistently attractive, but has not been
readily available to certain investors including endowments and
foundations, pension funds and wealthy individuals.
“Many large US endowments have been among the
best performing pools of institutional capital over the past 10 years,”
said William Kourakos, Partner and one of the Firm’s
founders. “With the addition of this
capability, we will provide clients with compelling and comprehensive
investment solutions suited to their individual needs. Bob Boldt is the
perfect choice to lead this effort.”
The new capability will include access to external managers in global
equities, global fixed income, absolute return, real assets, private
equity, and venture capital strategies, complemented by active portfolio
and risk management. Mr. Boldt and his team will be based in Austin,
Texas.
Joseph Perella, founding Partner and head of the Firm added, “Bob
Boldt is a recognized thought leader in the endowment and foundation
community with a superb reputation managing large pools of institutional
capital. We are extremely pleased that he is bringing his extensive
investment experience and creative approach to Perella Weinberg Partners.”
Bob Boldt stated, “Given the increasing
complexity of investment markets and lower return expectations for
traditional equity and bond portfolios, effectively managing an
institutional investment portfolio requires greater resources and a more
agile approach to investing. Managing alternative investments can be
particularly challenging for some organizations because of the resources
required for significant upfront due diligence, active management,
ongoing monitoring and diversification necessary for success in this
complex investment space. We look forward to working closely with
clients to help them take full advantage of the large endowment
investment model’s many potential benefits.”
Susan Soh joins Perella Weinberg Partners’
New York office, where she will head the asset management business’s
marketing and client service efforts. Most recently, Ms. Soh was a
Managing Director and Director of Business Development and Marketing at
Highbridge Capital.
Terry Meguid and William Kourakos said, “Susan
is an accomplished marketing professional with an exceptional reputation
and Perella Weinberg Partners is fortunate to have the benefit of her
talent and industry experience. This appointment reflects our strong
commitment to client service.”
Ms. Soh said “I am very excited about the
opportunity to work with the talented team at Perella Weinberg Partners.
They are developing a sophisticated asset management capability and I am
thrilled to be part of its implementation.”
About Bob Boldt
Mr. Boldt served as the CEO and CIO of the University of Texas
Investment Management Co. (“UTIMCO”)
from 2002 - 2006. During Mr. Boldt’s tenure
at UTIMCO, he led of team of professionals who managed the University of
Texas system’s nearly $20 billion of
investment assets. Mr. Boldt was previously a Managing Director at
Pivotal Asset Management, and from 1996 to 2000, he served as Senior
Investment Officer for Global Public Markets Investments at CalPERS,
where he oversaw the start of a hedge fund investment program. Mr. Boldt
holds a B.S. in Engineering and an M.B.A from University of Texas, and
is a Chartered Financial Analyst.
About Larry Goldsmith
Larry Goldsmith was previously the Managing Director of Public Markets
Investments at the University of Texas Investment Management Company (“UTIMCO”).
At UTIMCO, he was responsible for overseeing and managing nearly $15
billion of investments across global equity, fixed income, and
derivatives for the organization’s endowment
and operating funds. Prior to UTIMCO, Larry was Managing Director of
Equities at Commonfund, Director of Trust Investments at Fluor
Corporation, Manager of Alternative Investments at the J. Paul Getty
Trust, and Manager of Investments at Toyota’s
U.S. Headquarters. He holds both M.B.A and B.S. degrees from the
University of Pennsylvania’s Wharton School
of Business.
About Susan Soh
Ms. Soh was a Managing Director and Director of Business Development and
Marketing at Highbridge Capital, a $16.2 billion global alternative
investment firm. Ms. Soh was responsible for all the firm’s
hedge fund marketing and fundraising activities. Previously, Ms. Soh was
a Vice President with Lightyear Capital, a $2 billion private investment
firm, where she oversaw fundraising, marketing and investor relations.
About Perella Weinberg Partners
Launched in June 2006, Perella Weinberg Partners is a financial services
firm established to provide corporate advisory and asset management
services to clients around the world. Today, in its London and New York
offices, the firm comprises 23 partners and over 95 employees recruited
from a wide variety of leading financial institutions. Perella Weinberg
Partners has raised $1.1 billion from a global group of investors to
establish the operations of the firm and to fund its asset management
initiatives.
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