UBS Global Asset Management split its UBS alternative and quantitative investments hedge fund unit into two separate businesses, one managing and marketing internally managed hedge funds and one offering hedge funds-of-funds strategies and hedge fund consulting.
All single and multistrategy hedge funds now are housed within the UBS O'Connor unit, which is overseen by Dawn Fitzpatrick, managing director and the unit's head. Ms. Fitzpatrick was the chief investment officer of UBS A&Q's hedge fund family, a title she retains under the reorganization, said Megan Stinson, a UBS Global Asset Management spokeswoman.
William Ferri, group managing director and head of UBS A&Q, now leads the hedge funds-of-funds and consulting unit, Alternative Investment Solutions.
As of July 1, UBS A&Q managed $25.4 billion in hedge funds of funds and $5.2 billion in hedge funds.
Both Ms. Fitzpatrick and Mr. Ferri report to John Fraser, chairman and CEO of UBS Global Asset Management.
The reorganization “allows each business to operate as distinct entrepreneurial boutiques — something that is increasingly important for our clients,” Mr. Fraser said in a news release.