Christopher L. Kelley was named managing partner at Moody Aldrich Partners, where he will launch the firm's first alternative investment seeding fund midyear, Eli Kent, principal, said in an interview.
The position is new for the firm, which manages about $1 billion in domestic long-only value equities for a predominantly high-net-worth clientele.
Mr. Kelley was a managing partner of Weston Capital Management and co-founder of its hedge fund seeding platform until he resigned at the end of 2008. Mr. Kelley said in an interview that he advised several hedge funds on trading strategies during 2009.
Mr. Kelley will oversee the incubation fund and is responsible for identifying newly established managers for inclusion in the fund and for marketing. The fund will use a limited partnership format with “private equity characteristics,” according to a news release.
Mr. Kent said the firm has set a goal of raising $150 million to $200 million for investment in five to six new alternatives managers from institutional and high-net-worth investors over the next 18 months. The new strategy will “help diversify our revenue stream and add investment capabilities without our having to build it in-house,” Mr. Kent said.