James Welch was named managing director at Prisma Capital Partners and a member of the hedge fund-of-funds’ portfolio management group.
The position is new, confirmed Clayton McGratty, a spokesman.
Mr. Welch will concentrate on product development and will work with institutional clients on investment solutions.
“Consistent with our business model, we continue to add senior team members with significant track records and expertise in the alternative industry. Jim (is an) outstanding addition to our portfolio management … team,” Girish Reddy, Prisma managing partner, said in a news release.
Previously, Mr. Welch managed his own family money in hedge funds and other alternatives as managing member of Kettle Cove Investors. He will continue to advise Kettle Cove as a family member, Mr. McGratty said.
About 95% of the $4.5 billion Prisma managed as of June 1 in equity and credit hedge funds of funds was from institutional investors.