Spencer Rhodes was promoted to alternative investments global business manager at Allianz Global Investors.
Mr. Rhodes, who also is a director, oversees a new investment platform created by aggregating all of AllianzGI's alternative investment teams, including liquid strategies such as hedge funds, liquid alternative mutual funds and UCITS, and commodity and volatility trading, as well as illiquid infrastructure equity, infrastructure debt and private debt approaches.
“We've run alternative investment strategies for a long time, but because they were scattered throughout the company, their visibility to the outside world, as well as internally, was low. But they did well and attracted new assets anyway,” Mr. Rhodes said in an interview.
Total assets managed in the alternative investment strategies grew 157% to €5.4 billion ($6.6 billion) in the year ended Oct. 31, or 1.4% of AllianzGI's firmwide assets.