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Former Evans & Partners money manager Stephen Arnold – who was overseeing the firm’s $1 billion global equities unit before leaving unexpectedly last year – has popped up with a new fund.
And it is understood he has secured an interesting backer.
Arnold’s new venture, a boutique global equities house called Aoris Investment Management, is up and running and has secured about $60 million in funds under management since inception in January.
His pitch is about creating a long-only Australian global equities manager that will stay small enough to keep its team lean and investors’ interests at heart.
That means not trying to compete with the heavyweights – Magellan Financial Group and Platinum Asset Management – or trying to replicate their success, like the fast-growing Antipodes Partners.
Instead, he is eyeing a $3 billion to $5 billion fund over the long term, and has picked up former JPMorgan Asset Management regional sales manager Alexander Ordon to help drum up investor interest.
Arnold has also opted to keep full ownership within the Aoris team which includes himself, as chief investment officer, operations manager Daniel Micallef and Ordon. He is expected to build out the investments team in coming months.
Also on board is Blackstone senior managing director James Carnegie, as an Aoris shareholder and non-executive director.
It is understood Arnold and Carnegie first crossed paths while working at Kerr Neilson’s Platinum in the 1990s. Carnegie left for business school in the United States and made his way into private equity, while Arnold headed to Colonial First State and offshore, before heading to Evans & Partners to run its international equities portfolio in 2011.