Stewart Hay has joined Northleaf Capital Partners as vice chairman for global investor solutions, the global alternatives manager said Wednesday.
Until October, Mr. Hay held a similar role with abrdn as global head of private markets client strategies. He departed the company to pursue other opportunities, and his position was not filled, an abrdn spokeswoman said at the time.
On LinkedIn, Mr. Hay said he that he was "playing golf and going to big sports events."
In August 2017, Mr. Hay joined what was then Aberdeen Standard Investments from Standard Life Investments' private equity subsidiary SL Capital Partners, where he was a founding partner.
Abrdn had $617.5 billion in assets under management as of June 30, 2022.
Northleaf Capital Partners, with offices in Toronto, London, Los Angeles and most recently Tokyo, manages $22 billion in private equity, infrastructure and private credit strategies. Its clients include public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices, according to a firm news release.
In the newly created role, Mr. Hay will support Northleaf's expansion into global private markets, a spokesman said. "Having known the senior leadership team for more than 20 years, I am looking forward to working with everyone at Northleaf to continue to build out and further diversify the firm's client base," Mr. Hay said in the news release.
In an interview, Mr. Hay said that more private market firms are looking to add or enhance their client relations capabilities, while private market investors "have become more and more sophisticated in what they are looking to do."