Caledonia bolsters U.S. team for North American expansion

David Scully joined hedge fund manager Caledonia Private Investments as vice chairman, USA, part of the Australian manager's expansion into the North American investment management market.

It is a new position. Mr. Scully is based in New York and will oversee the development of a global marketing and client service team for Sydney-based Caledonia, said Jonathan Gasthalter, a company spokesman, in an e-mail.

Mr. Scully left Coatue Management, where he was a partner and chief marketing officer, in 2015. Walter Lee, who was a partner and head of capital formation and investor relations at Trian Partners, replaced Mr. Scully about a year ago, said a Coatue spokesman.

Michael Messara, a Caledonia senior portfolio manager, was promoted to co-chief investment officer and relocated to Caledonia's New York office. He will retain his portfolio management duties, Mr. Gasthalter said. Mr. Messara's co-CIO is Sydney-based Will Vicars, who is a principal.

As part of the further buildout of the U.S. office, Augie Sciulla, was named head of marketing, USA. Mr. Sciulla was managing director and head of business development and investor relations at Ardmore Global Investors. Mark Weiner, an Ardmore spokesman, did not immediately return a call seeking information about Mr. Sciulla's replacement.

“David brings nearly 30 years of financial services experience and deep industry relationships, as well as a proven track record of building hedge fund businesses. I've worked closely with Mike Messara for a decade and with this promotion recognize his strong performance and leadership,” Mr. Vicars said in a news release.

Caledonia manages $3 billion in a long/short equity strategy.