Old Mutual Global Investors has bolstered its alternatives investment team, hiring Donald Pepper as managing director of alternative investments.
Pepper, once head of alternatives at New Star Asset Management, will report to Warren Tonkinson, head of distribution at OMGI.
Paul Simpson, head of alternatives, will continue to lead the investment side of the alternatives business.
Julian Ide, CEO of Old Mutual Global Investors, said: "Donald will bring enhanced strategic leadership to the non-investment side of Old Mutual Global Investor's Alternatives business.
"We have completely reinvigorated our distribution teams in 2012 and Donald will make a significant contribution to the growth of our business."
Pepper joins Old Mutual from TT International, where he was an investment director for the firm's hedge fund division.
He joined TT International in 2010, following Henderson's acquisition of New Star.
Aimed at retirement market
Earliest date for inclusion is October 2016
Deal is subject to FCA approval
The number of multi-asset fund launches has accelerated this year, following the introduction of pension freedoms, begging the question: how many vehicles in the burgeoning sector can thrive or even survive in the longer term?
Only a handful able to achieve profitability