Products February 1, 2011

Ariel Investments Introduces Discovery Fund

Ariel Investments, LLC, launched the Ariel Discovery Fund, a small-cap, deep-value, publicly traded mutual fund.
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Ariel Discovery Fund, a portfolio comprised of 30 – 40 names, will invest in stocks with market capitalizations under $2 billion at the time of initial purchase.  David M. Maley will serve as Lead Portfolio Manager andKenneth E. Kuhrt will act as Portfolio Manager.       

According to the company, Maley currently leads Ariel’s micro-cap value strategy. He joined Ariel in April 2009, bringing 25 years of investment experience. Prior to joining Ariel, Maley ran Maple Hill Capital Management. He began his investment career at Goldman Sachs.  He later joined Harris Bank as a Vice President and Senior Portfolio Manager.  Maley earned a BBA in finance from the University of Notre Dame and an MBA from the University of Chicago.   

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Kuhrt serves in the same capacity for the Ariel Small Cap Value Product, working closely with lead portfolio manager John W. Rogers, Jr. and fellow portfolio manager John Miller. He joined the firm as a research analyst in 2004 after earning his MBA from the University of Chicago. Prior to Ariel, Kuhrt spent nearly two years with William Blair & Company.  He also worked as a senior auditor at KPMG.  He received a BS in accounting from the University of Illinois at Urbana-Champaign.  

Deals & People February 1, 2011

Commonfund Names New CIO

Commonfund appointed Rick Nelson as Chief Investment Officer of Commonfund Group and CEO of Commonfund Asset Management Company, effective February 1, 2011.
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In this role, Nelson will report directly to Verne O. Sedlacek, President and CEO of Commonfund Group.He will also chair the Commonfund Investment Policy and Asset Allocation Committee, oversee Commonfund’s equity and fixed income programs, and manage its $11-billion outsourced solutions business.  

Before joining Commonfund, Nelson was Vice Chairman and Chief Investment Officer of ING Investment Management Americas, where he led more than 300 professionals managing over $165 billion in assets, according to the company’s announcement.  He also worked as Managing Director, Head of U.S. Equity, for JP Morgan Investment Management, where he led 120 professionals managing over $90 billion in assets.  Prior to his role at JP Morgan, Nelson was with Bankers Trust Company as Managing Director and Head of the Quantitative Investments Group.

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Nelson earned an M.B.A. from the University of Chicago and a B.S. in Business from the University of Pennsylvania, Wharton School of Business.  

Commonfund also announced that A. Nicholas De Monico, who served as Deputy CIO during the search for a permanent one, has been named CEO of Commonfund Marketable Alternatives (a division of Commonfund Asset Management Company), reporting to Sedlacek.  In this role, De Monico will have investment and business leadership for Commonfund’s hedge fund portfolios, including funds and separate accounts in directional and relative value strategies.   

Commonfund Chief Economist Michael Strauss, will also assume the title of Chief Investment Strategist of Commonfund Asset Management Company, reporting directly to Nelson.  Susan Carter will remain President and CEO of Commonfund Capital, reporting to Sedlacek. 

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