Ashu Pal has joined Nomura Capital Management as head of portfolio management.
Pal will focus on asset allocation and manager selection within private credit as a senior portfolio manager and team leader, actively supporting the firm’s ongoing growth initiatives in the Americas, said a news release April 21.
A spokesperson said the firm “has reorganized its resources in such a way as to centralize portfolio management and manager research functions under Ashu, and in addition is adding new resources through two new hires that will expand the team’s ability to deliver for clients in response to growing market opportunities.”
Pal formerly served as senior portfolio manager at the $68.2 billion Maryland State Retirement & Pension System, Baltimore. A Maryland spokesperson said, “We have not yet filled the open position created by the departure of Ashu.”
NCM, a wholly owned subsidiary of Nomura Holding America, is a multicredit manager serving intermediary and institutional clients and has about $39 billion in assets under management.
