BennBridge, the multi-boutique investment firm, has announced plans to set up its second joint venture boutique after hiring the emerging markets team from Harvard Management Company.
BennBridge has hired Sanjiv Bhatia, the emerging markets specialist within the Harvard Management Company who has managed the EM portfolios of the Harvard Endowment from 2013 to 2017.
A joint-venture boutique named Pembroke will now be launched with BennBridge, akin to the launch of Tellworth Investments with ex-Schroders managers Paul Marriage and John Warren.
Launching in Q1 2018, it will offer its expertise to US and UK clients.
Bhatia has spent the last 25 years investing in Asian and emerging markets. He spent 12 years at Goldman Sachs where he was head of Asian equity trading in Hong Kong, and prior to that built the Asian business at Deephaven Capital Management and Isometric Capital.
He joined the Harvard Endowment in 2012 as a managing director.
His team's focus is on generating alpha by identifying high-conviction ideas derived from top-down themes and bottom-up fundamental analysis, with a low net exposure.
Ryan Durance, head of business development at BennBridge, said: "We believe it is the optimal time in the emerging markets equity cycle to launch a specialist emerging market boutique.
"We continue to see robust client demand globally and expect the asset class will continue to provide a consistent source of alpha for skilled managers over the long term.
"Sanjiv stood out because of his extensive experience investing in Asian and emerging markets equities and his proven and long track record."
Bhatia, who will be chief investment officer at Pembroke, said: "Having managed a successful emerging markets long/short strategy since 2005, I am pleased to now launch my business in partnership with BennBridge and pursue this strategy for the benefit of a greater audience.
"We aim to continue to capture the alpha opportunity in global emerging markets equities and hope to continue delivering strong uncorrelated returns to clients. We look forward to opening the fund up to a wide range of external investors in Q1 2018 as a BennBridge boutique."
In June 2017, BennBridge announced it had partnered with Marriage and Warren to launch UK mid- and small-cap boutique Tellworth Investments. This has since launched with an AUM of £385m after bringing assets across from Schroders.
Leader of People's Party
Listing two global equities strategies
Aims to encourage competition in industry
Markets went into freefall
Issued 50,000 new shares