Mariner Investment Group Adds Equity Volatility Team To Mariner Incubation Platform Former Citigroup Executive and Seasoned Volatility Trader Peter van Dooijeweert To Lead Effort
NEW YORK, June 12, 2013 /PRNewswire/ -- Mariner Investment Group, the alternative asset manager, today announced that it has named Peter van Dooijeweert, the former Head of Equity Relative Value Trading at Citigroup, to run a global equity volatility portfolio on the Mariner Incubation Platform, a multi-strategy mandate Mariner launched in April 2013 to be managed by leading investment talent sourced from the financial services industry. The portfolio will be known as the Mariner Equity Volatility Strategy. Today's announcement follows the firm's recent appointments of Richard Rumble to manage a global emerging market equity portfolio and Eric Pellicciaro to manage a global macro portfolio on this new platform.
The Mariner Equity Volatility Strategy portfolio will employ a volatility trading approach that capitalizes on Mr. van Dooijeweert's experience in managing portfolios of equity options and other derivatives at investment banks and hedge funds since 1995. The strategy will focus on comparing the relative value of options across single name equities, market sectors, and global indices to build portfolios that monetize identified mispricings.
"Peter brings an impressive track record trading in equity volatility markets, demonstrating an ability to generate differentiated returns throughout market cycles," said Bracebridge Young, Mariner's Chief Executive Officer. "We expect volatility trading will continue to offer strong risk adjusted returns given the reduction of bank proprietary activity in these instruments and the continued proliferation in the use of volatility related products in the structuring of investment portfolios. We are excited to have Peter and his team managing this portfolio on our Mariner Incubation Platform."
"The Mariner Incubation Platform offers us all the benefits of an institutional grade platform on the infrastructure side to build our business along with synergies associated with access to portfolio managers across market disciplines," said Mr. van Dooijeweert. "As markets digest the possibility of the reduction of significant central bank intervention in the US and global economic prospects remain uncertain, we believe that our approach to volatility arbitrage is uniquely positioned to take advantage of market dislocations to generate returns with low to negative correlation to equity markets and other asset classes."
Mr. van Dooijeweert has more than 18 years of experience in trading volatility products. Most recently, he spent three years at Citigroup in both New York and London, where he was Head of Equity Relative Value Trading. Previously, he was Founding Partner and CEO of Alopex Capital Management, a global volatility arbitrage hedge fund initially seeded by Tudor Investment Corp. Prior to Alopex, he was a portfolio manager in the equity arbitrage group of Soros Fund Management. He started his investment career with Goldman Sachs as a derivative trader. Mr. van Dooijeweert is joined by Steven Ahn, who brings 10 years of experience in managing equity derivatives portfolios as well as significant experience in capital structure arbitrage and event driven trading.
The Mariner Incubation Platform allocates capital to industry-leading and established talent in areas that the firm considers investment opportunities primarily in the rate, equity and credit markets. Mariner provides the portfolio managers with robust infrastructure support as well as the potential to create future stand-alone advisory relationships including hedge funds. Managers on the platform oversee portfolios with initial investments ranging from $50 million to $100 million.
About Mariner Investment Group, LLC
Mariner Investment Group, LLC, is an SEC registered investment adviser and manages approximately $10 billion of assets together with its associated advisers consisting of several direct and affiliated single and multi-strategy hedge funds, funds of funds and other alternative investments services. Founded in 1992, Mariner and its associated advisers employ approximately 230 people in New York, Boston, London, Tokyo, Seoul, Philadelphia, Harrison (NY) and Rowayton (CT).
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SOURCE Mariner Investment Group