Glenmede hires a manager for outside hedge funds

FWR Staff

19 November 2008

The firm says down market affords opportunities to ramp up for the long run. Philadelphia-based asset- and wealth-management firm Glenmede has hired former Brooklyn NY Holdings investment manager Benjamin Alimansky to oversee hedge funds and opportunistic investment strategies within its Manager Alliances Program . He reports to Glemede's CIO Gordon Fowler.

"As many other financial organizations downsize in today's difficult environment, we believe that this is an opportune time to augment our investment team with exceptionally talented individuals like Ben," says Fowler.

Diligence

Glenmede's MAP evaluates and monitors external managers and non-proprietary investment products that it employs on its clients' behalf conjunction with in-house products "to expand the spectrum of Glenmede's offerings," according to a blurb on Glenmede's website.

Kenneth Trippe oversees Glenmede's proprietary alternative-investment platform, which includes the firm's private-equity and real-estate strategies. Trippe joined Glenmede from AXA Financial in mid 2007.

Before managing assets for Brooklyn NY Holdings, which represents the investment and philanthropic interests of the late Alfred Lerner family, Alimansky managed alternative and traditional investments for Olympia Capital Management, Deutsche Bank's DB Advisors and Goldman Sachs.

"Ben has managed hedge funds and opportunistic investment strategies for major global organizations and has the analytical and risk management expertise to help our clients benefit from the return opportunities and heightened portfolio diversification that hedge funds can provide," says Fowler.

Glenmede was founded in 1956 by four of the children of J.N. Pew, founder of Sun Oil , to act as a fiduciary for the Pew Charitable Trusts. It now supervises nearly $16 billion in private and institutional assets. In addition to its headquarters in Philadelphia, it has offices in Morristown, N.J., Princeton, N.J., Wilmington, Del., and Beachwood, Ohio. -FWR

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