Pacific Asset Management (“Pacific”), the London-based asset manager, today announced a partnership with global equity specialist Tourbillon Partners, enhancing its global equity capabilities with a highly regarded and experienced team.
Co-founded by portfolio managers Ben Beneche and Ramesh Narayanaswamy, Tourbillon is a global, long-only equity manager with a value-driven approach. The team focuses on durable businesses and uses a unique approach to identify the most compelling opportunities worldwide.
Before founding Tourbillon, Ben Beneche was Senior Portfolio Manager and Co-Lead of International Equities at Pictet Asset Management, where for over ten years he managed all-cap international equity portfolios with a particular focus on Japanese and Asia-Pacific companies.
Ramesh Narayanaswamy was a Partner and Portfolio Manager at Veritas Asset Management before founding Tourbillon. At Veritas, he spent eleven years in roles spanning global fundamental equity research and portfolio management. Prior to that he spent five years at Fidelity Investments as both analyst and sector portfolio manager.
The team will be appointed portfolio managers of Pacific’s Global Equity Strategies. Concurrently, Pacific will also become investment manager to Tourbillon’s existing Cayman fund, giving a combined AUM of c. $230m. All vehicles will be managed by Ben and Ramesh using the same proprietary process and philosophy they have successfully implemented at Tourbillon, with Pacific providing the operational infrastructure, distribution and technology to allow the team to focus on generating returns for investors.
Matthew Lamb, CEO, Pacific Asset Management, said:
“We are thrilled to welcome Ben and Ramesh to Pacific. Their philosophy embodies our approach of delivering high conviction, “craft” investment strategies to clients globally. Pacific was built to be a home for outstanding investment professionals, supported by institutional infrastructure and leading technology. Attracting individuals of Ben and Ramesh’s calibre to the Pacific family is further validation of the culture and tech-enabled infrastructure we have built. I am hugely excited about what we can achieve together.”
Ben Beneche and Ramesh Narayanaswamy – Portfolio Managers and Co-Founders, Tourbillon
“We built Tourbillon on the belief that there is a better way than the traditional asset management model. This transformative partnership with Pacific accelerates our ambition to create an exceptional single strategy fund. It brings increased focus and resources for investment and aligns the durability of the firm with the durability of the investments we seek. We also benefit from Pacific’s best-in-class client experience, technology and operational capabilities which we will share with clients. We have been impressed with the quality of people in the team, and the ethos of supported independence, which is clearly visible in the track record of developing a range of ‘craft-based, hard to industrialise’ strategies like ours.”
