Joining from Fortis, the six-member Boston-based team is led by Lode Devlaminck and John Chisholm and has an average of 19 years of investment experience. The announcement said the recruitment of the team will provide Hermes with the expertise to build a core active global equity business which will be structured as a specialist investment partnership.
Hermes will own the majority share but the partners and employees will have a stake in both the long-term profitability and the enterprise value of the business.
Following approval from the SEC, the team will initially focus on the requirements of the BT Pension Scheme (BTPS) but will also be looking to market this new capability to institutional third parties, according to the announcement. BTPS will provide a cornerstone investment of $500 million.