BraddockMatthews and Grace Point Partners are merging into an executive recruitment company focused on jobs in asset management, including roles at hedge funds, private-equity firms and family offices.
The combined businesses will offer search services for traditional and alternative asset managers under the BraddockMatthews name, according to a statement Monday. Terms of the deal were not disclosed.
The asset-management industry has struggled in recent years with fee compression, lower investment returns, and an investor shift into low-cost, passive funds. That has created movement of investment professionals as firms assess their strategies, and some firms prepare for potentially volatile markets as stocks keep rising to new records in one of the longest-running bull markets.
The asset management industry is facing unprecedented challenge and opportunity, and our firm will be ideally positioned to help our clients address and solve their increasingly complex needs, Derek Braddock, a partner at BraddockMatthews, said in the statement.
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BraddockMatthews, with offices in New York and Boston, will be co-lead by Grace Point founder Lisa Steele, and BraddockMatthews partners Braddock, Bill Matthews, and Erin Carroll, according to the statement. BraddockMatthews recruits across investment, sales, marketing, product, and operational roles at asset managers and asset owners. Grace Point has focused primarily on capital-raising and client-relationship positions at hedge funds and other alternative asset managers.
Context Jensen, an executive search firm focused on marketing roles at alternative asset managers, has seen a steady uptick in hiring for investor relations and marketing jobs, a trend CEO Sasha Jensen attributed earlier this year to potentially volatile markets ahead.