Gustaf Hagerud will join Kestrel Partners in London as a partner, said John Ricciardi, CEO at the firm.
It is a new position, and Mr. Hagerud will join next year, Mr. Ricciardi said. Mr. Hagerud will have a “major investment role” and work on the firm’s global multiasset strategies.
Mr. Ricciardi said the £325 million ($527.5 million) manager, which he expects to be more than £500 million once new allocations are funded, is in growth mode, and “needed somebody of (Mr. Hagerud’s) caliber.”
Mr. Hagerud is deputy CEO and head of asset management at AP3, Stockholm. A spokeswoman for the 272.6 billion Swedish kronor ($38.3 billion) pension fund confirmed he is departing and declined to comment on any replacement.