Basil C. Williams was named a managing director at hedge funds-of-funds specialist Pacific Alternative Asset Management Co.
After a transition period, Mr. Williams will become head of portfolio management, assuming the position from David Weinberger, who will retire in the middle of 2017, said Jane Buchan, PAAMCO's CEO.
“We are really excited that Basil has joined us. I've known him for a long time and PAAMCO used to invest with his former firm, Concordia Advisors,” Ms. Buchan said.
Mr. Williams was co-chief investment officer of alternative investment manager Mariner Investment Group until the end of June, when he left the firm because of a contract dispute, a Mariner statement said. William J. Michaelcheck, Mariner's founder, partner, chairman and co-CIO, became sole CIO and Mr. Williams was not replaced.
PAAMCO managed $10.1 billion in hedge funds of funds, customized mandates and other alternative strategies as of June 30.