Neil Power joined Blue Sky Alternative Investments in Sydney as managing director of the firm's hedge fund division, a spokeswoman for the firm confirmed.
Mr. Power replaces David Hobart, who has left to pursue a career in teaching, the spokeswoman said in an email. Mr. Hobart couldn't immediately be reached for further details.
Previously, Mr. Power was a partner at Allen Partners, a Sydney-based third-party marketing firm.
Craig Gribbles, Allen Partners' managing partner, said in an e-mail his firm has no plans at present to replace Mr. Power.
Blue Sky Alternatives Investments, which listed on the Australian Securities Exchange in early 2012, has more than A$700 million (US$553 million) in combined assets under management across the firm's private equity, venture capital, hedge fund, private real estate and real asset investments, the firm's website reports.
Mr. Power will oversee every aspect of Blue Sky's hedge fund business, including research, implementation and trading processes, as well as operational and marketing functions, said the spokeswoman.