NEW YORK, April 8, 2013 /PRNewswire/ -- Mariner Investment Group, the alternative asset manager, today announced that it has launched the Mariner Incubation Fund, a multi-strategy fund to be managed by leading investment talent culled from across the hedge fund industry who will provide Mariner with strategy-level investment expertise while enjoying the support of Mariner's robust infrastructure and the potential to create future stand-alone hedge funds. Eric Pellicciaro, former Head of Global Rates Investments at BlackRock, has joined Mariner to manage a global macro portfolio, called Alarium Mariner Global Macro LLC, within the new Mariner Incubation Fund.
The Mariner Incubation Fund, currently a fund-of-one, will fund industry-leading and established talent in areas that the firm considers investment opportunities and give Mariner a new, efficient structure for incubating new managers. Managers will oversee portfolios with initial investments ranging from $50 million to $100 million on behalf of the fund.
"Mariner takes an investment-led approach to our mandates, and the Mariner Incubation Fund reflects our latest thinking on where the opportunities lie in the rate, credit and equity markets," said Bracebridge Young, Mariner's Chief Executive Officer. "The Mariner Incubation Fund builds on Mariner's long history of attracting top industry talent, like Eric, and provides them with access to our global base of large institutional and sovereign wealth clients and retail distributors, in addition to to the safeguards and infrastructure they need to succeed. Eventually, we anticipate developing new funds for a number of the portfolio managers who will be part of the Mariner Incubation Fund."
The Alarium Mariner portfolio will utilize a global macro strategy that draws on Mr. Pellicciaro's 17 years of experience in fundamental macro and fixed income investment management. The investment approach couples fundamental research with systematic and quantitative methods across the broader G20 liquid market segments. In the future, Mariner also plans to launch the Alarium Global Macro Fund as a stand-alone fund to be managed by Mr. Pellicciaro.
Mr. Pellicciaro, the first manager in the Mariner Incubation Fund, joins Mariner from BlackRock, where he managed the Global Rates Investment Team. He was part of the core portfolio strategy group and was specifically responsible for macro and global interest rate strategy for the $600+ billion fundamental fixed income portfolios. In addition, he co-managed the fixed income mutual funds, and managed various alternative investment portfolios. Prior to heading Global Rates Investments, Mr. Pellicciaro was responsible for managing BlackRock's mortgage portfolios.
"Mariner's 20-year tenure in the alternative asset management business provides skilled professional expertise and a robust infrastructure that is very attractive," commented Mr. Pellicciaro. "It offers a rich environment for cultivating investment ideas and new investment opportunities."
"Eric is a skilled investment professional who brings deep market knowledge and expertise in the global markets," commented Mr. Young. "We are thrilled that Eric will be one of the original portfolio managers of the Mariner Incubation Fund and are very optimistic that this will be a creative and profitable relationship."
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. 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