The fund uses a multi-strategy via investment managers culled from the hedge fund industry, who will provide Mariner with strategy-level investment expertise while using Mariner’s infrastructure and the potential to create future stand-alone hedge funds.
Mariner, an alternative asset manager, takes an investment-led approach to mandates, according to Bracebridge Young, chief executive of Mariner. “The Mariner Incubation Fund reflects our latest thinking on where the opportunities lie in the rate, credit and equity markets,” Young said. “Eventually, we anticipate developing new funds for a number of the portfolio managers who will be part of the Mariner Incubation Fund.”
Pellicciaro will manage Alarium Mariner Global Macro LLC, a global macro portfolio, within the Mariner Incubation Fund. The Alarium Mariner portfolio will utilize a global macro strategy that draws on Pellicciaro’s 17 years of experience in fundamental macro and fixed-income investment management. The investment approach couples fundamental research with systematic and quantitative methods across the broader G20 liquid market segments. Mariner plans to launch the Alarium Global Macro Fund as a stand-alone fund to be managed by Pellicciaro.
The first manager in the Mariner Incubation Fund, Pellicciaro previously managed the global rates investment team at BlackRock. He was part of the core portfolio strategy group, specifically responsible for macro and global interest rate strategy for the $600+ billion fundamental fixed-income portfolios. He also co-managed the fixed-income mutual funds as well as various alternative investment portfolios.
The Mariner Incubation Fund is currently a fund-of-one and will be used to fund talent in areas that the firm considers investment opportunities, giving the company an efficient structure for incubating new managers. Managers will oversee portfolios with initial investments ranging from $50 million to $100 million on behalf of the fund.