Ballast, which specializes in long-short equity, will join Investcorp’s platform of hedge fund managers. Within this platform, Investcorp provides its global client base with access to investment managers, supported by ongoing monitoring and operational oversight and control.
Managers, in turn, benefit from the backing of a leading financial services organization, including Investcorp’s global marketing and sales infrastructure and established client base, according to Investcorp.
Ballast is led by Robert Kaynor, chief investment officer, and Ryan O’Sullivan, president. The team has over 40 years of combined long-short equity investing experience, as well as expertise in managing assets in varying market environments.
Investcorp’s hedge fund business has approximately $4.7bn in assets under management. In addition to its single manager platform, Investcorp provides managed account and fund of funds solutions.
Investcorp head of hedge fund business Deepak Gurnani said Ballast is an important addition to the single manager platform.
"At Investcorp the focus has always been on alpha. Ballast is a long-short hedge fund manager that has demonstrated its capabilities to generate alpha and strong returns with low market beta.
"Our alliance with Ballast follows our previous successful partnerships, and we expect to continue to add additional such relationships in order to offer our clients the opportunity to invest with best-in-class hedge fund managers," Gurnani said.
Kaynor said that the partnership with Investcorp offers Ballast a unique opportunity to join Investcorp’s well differentiated platform with proven global reach and experience.
"We continue to see significant advantages for our strategy as stock correlations break down and alpha generation sets up readily. We value the opportunity to align ourselves with a well known and stable organization. We look forward to leveraging our relationship with Investcorp to enhance our business growth and capabilities," Kaynor said.
