Fidante Partners and Ares Management’s newly formed joint venture, Ares Australia Management, has appointed the former lead senior investment specialist of Macquarie fixed income as its new boss.
Teiki Benveniste has been appointed as the head of Ares Australia Management (AAM) after six and half years with Macquarie.
AAM was only founded in October, with the firm aiming to be one of Australia’s leading credit and alternative asset managers.
As the new head of the enterprise, Mr Benveniste will be held responsible for building investor interest in the specialist asset manager and for increasing assets under management as it launches its range of investment strategies.
He will also serve as a liaison with Fidante Partners, which will provide product distribution, local fund reporting and back office administration.
Mr Benveniste said the firm will provide local investors and the country’s super system with access to specialist investment expertise in credit and other alternative instruments, which he says will “play an important role in delivering high-quality diversified returns for investors’ portfolios”.
“With persistently low global interest rates, investors need to find alternative ways to generate attractive income and to achieve targeted returns,” he said.
“Ares has a long track record of delivering high-quality investment solutions across a range of alternative investment strategies with a focus on managing downside risk with a disciplined and selective investment approach.”
AAM said it expects to launch its first credit fund in the coming months, with further strategies to follow.
Speaking on Mr Benveniste’s appointment, David Sachs, partner of Ares Management Corp, said: “We believe that his broad experience in fixed income investing in Australia and Europe positions him as an excellent leader to build investor interest in the funds and investment strategies of Ares within Australia and New Zealand and to seize the significant opportunities available in the region’s market.”
Challenger funds management chief executive Nick Hamilton added: “We are very pleased to have such a high-calibre and experienced professional in Teiki to head our efforts at AAM. Everything we do is centered on providing our retail and institutional customers with attractive fund management solutions.
“This joint venture demonstrates our ability to attract leading investment managers globally and reach halfway around the world to bring a leading fund manager like Ares with high-quality products to our market.”
In his most recent role at Macquarie, Mr Benveniste managed a team of investment and product specialists covering both retail and institutional investors.
Prior to this, he was based in London for close to seven years at Société Générale where he held trading, credit analyst and sales roles for loan syndications across Europe, the Middle East and Africa.
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
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