Three analysts on Artisan Partners’ International Value Equity team — Kevin Beck, Anand Vasagiri and Jane Danziger — left the firm to open a Denver office for Australian manager Paradice Investment Management and launch a global small-midcap strategy for the firm, according to Investment & Technology newspaper.
Artisan spokesman Mike Roos declined to comment.
Paradice’s new strategy was seeded with A$200 million (US$173.5 million), believed to be from existing client REST Super, the Sydney-based superannuation trust for retail employees. The strategy will be concentrated — holding 50 to 70 stocks at any one time — and has a US$300 million cap initially. It will be offered to Australia-based investors only for now.
“Our Australian clients have found it really hard to find a good global small-cap manager, so they’ve encouraged us to set one up ourselves,” said David Paradice, founder of the Sydney-based boutique with about A$6 billion under management. Paradice has closed all of its existing strategies to new clients.
Michael Bailey is editor of Investment & Technology in Sydney.
