LONDON and BOSTON, July 14, 2021
Top executives from institutional and private investment firms including Apollo, Makena, Rothschild Foundation and Höegh Capital Partners join distinguished Board of global OCIO
LONDON and BOSTON, July 14, 2021 /PRNewswire/ -- Partners Capital, a leading global Outsourced Investment Office, today announced the appointments of Sanjiv Misra, David Burke and Brad Fried to its Board of Directors. Martine Holter has been named as a Board Adviser.
These additions to the Partners Capital Board represent the most significant changes to its membership since 2005 when Lord Rothschild and Sir Ronald Cohen made their strategic investments in the business. The changes coincide with last year's generational leadership changes when Arjun Raghavan was appointed Chief Executive Officer. After 19 years as CEO and Co-Founder Stan Miranda took the role of Chairman, and Paul Dimitruk became the Senior Partner. Both continue full-time engagement in the business, with Stan focused on key strategic initiatives including the build-out of the West Coast office and the firm's ESG investment strategy, working closely with Kristen Weldon the firm's global head of ESG and Impact Investing.
While the working partners continue to retain majority ownership and control of the firm, the strengthening of the Board with the addition of the external directors reflects an important milestone in the business.
CEO Arjun Raghavan said, "The next generation of management are taking a 10 to 20 year perspective on how best to reinforce the firm's leadership position in the growing outsourced investment management business in a manner that successfully delivers higher levels of investment performance to our global client base." Raghavan added that "this will require an accelerated transition from a traditional US endowment model towards a hybrid model that will access high quality investments through a wider palette of manager partnerships, co-investments and selected direct investments. This continued evolution to a hybrid model is what we refer to as PRMEA or the Partners Risk Managed Endowment Approach."
"As we continue to strengthen our business globally to best serve leading institutions and families, we are delighted to welcome global investment leaders Sanjiv, David, Brad and Martine to our Board of Directors," said Stan Miranda, Co-Founder and Chairman of Partners Capital. "The new Board members were hand-picked for their experience in helping us achieve our vision over the coming decade. Their vast experience with distinguished financial institutions will also help us fortify our corporate governance and internal risk management processes in the face of growing complexity of the investment world."
The profiles of the new members are set out below:
Other members of Partners Capital's Board of Directors include independent directors Rosalind Hewsenian (CIO, Helmsley Charitable Trust), Rich DeMartini (Vice Chairman, Crestview) and Board Adviser Jeremy Sillem (Managing Partner, Spencer House Partners). Also on the Board are members of the firm's senior leadership – Stan Miranda, Arjun Raghavan, Paul Dimitruk, John Collis and William Fox. The firm's global Chief Operating Officer, Toby Seth, will carry on as a Board Advisor.
About Partners Capital
Founded in 2001, Partners Capital is an independent Outsourced Investment Office (OCIO) primarily serving sophisticated institutions and senior investment professionals in Europe, North America and Asia Pacific. With offices in Boston, New York, London, Singapore, Hong Kong, San Francisco and Paris, the firm is one of the few truly global OCIOs, employing 230 people worldwide and covering all major asset classes. The firm oversees assets in excess of $40 billion.1 Additional information on Partners Capital may be found at http://www.partners-cap.com.
Prosek Partners for Partners Capital
1 As at March 2021