In his new position, Burke will be responsible for analyzing market risk exposures in individual alternative investment manager portfolios, as well as aggregate Russell fund of funds portfolios. As a senior portfolio manager, Babbit will oversee the firm’s multi-strategy hedge fund of funds portfolios, both custom and commingled, for institutional and private clients.
Both will be based in Russell’s New York office and will report to Ed Robertiello, managing director, hedge funds. The hedge fund team includes 13 professionals with experience working at pension funds, funds of hedge funds, direct hedge funds and trading firms.
According to a press release, Burke brings to the team nearly 10 years of experience in providing risk services to institutional investors in hedge funds and other alternative investments. Most recently he was executive director and head of the analyst team at Measurisk, a risk analytical system for hedge funds.Babbit joins Russell from Credit Suisse Group where he was director, head of North America portfolio hedge fund of funds in the Alpha Strategies Group.