Alger to open London office led by Kirk Hotte
US asset manager Alger Associates Inc has announced the formation of UK based subsidiary Alger Management Ltd, and the appointment of Kirk Hotte as head of international sales, in a bid to expand its global asset management operations.
The new office will be led by Kirk Hotte, senior vice president and newly appointed head of international sales as of July 2014. Hotte will focus on expanding Alger’s presence to private bank, multimanager, and institutional relationships located outside the US. Prior to joining Alger, he has been European business director at Old Mutual Global Investors and Investec Asset Management.
Alger Associates is the parent company of Fred Alger Management Inc, which has been present in the European market since 1996. Fred Alger Management managed more than USD21.5bn as of March 2014, out of which USD2.5bn outside the US as part of Alger Associates.
Non-US investors will be able to access Alger investment offerings through Alger Sicav, which includes The Alger American Asset Growth Fund, managed by Patrick Kelly, Alger Emerging Markets Fund, managed by Deborah Vélez Medenica, and Alger Dynamic Opportunities Fund, a long/short hedged equity fund managed by three of Alger’s portfolio managers, including CEO and CIO Dan Chung. In addition, clients can access Alger’s strategies through sub-advised and separate account mandates.