New York- and London-based financial services upstart Perella Weinberg Partners has appointed three new partners to join its new asset management business, Agility.
Bob Boldt will lead the new division, and Larry Goldsmith will be in charge of public equity and fixed income markets. Susan Soh will be responsible for the asset management division’s marketing. Agility will be structured on the large endowment fund investment model, the firm said in a statement.
Boldt is the former chief investment officer of University of Texas Investment Management Co. (UTIMCO), the $20 billion (€15 billion) investment division of the University of Texas. He took part in a 2002 decision to disclose UTIMCO’s private equity investments to the public in an attempt to refute allegations that the endowment had made investments in general partnerships where personal relationships existed on either side. Boldt took the position that the disclosure was necessary to help maintain the public’s confidence in the financial markets.
“We’re a public university and effectively we invest public funds. There is therefore a need for transparency in our disclosure,” Boldt said at the time.
Boldt left his position at UTIMCO last September.
Goldsmith also joins Perella Weinberg from UTIMCO. There, he was the managing director of public markets investments and oversaw $15 billion in investments in global equity, fixed income and derivatives for the endowment and operating funds.
Soh formerly held the positions of managing director and director of business development and marketing at global investment firm Highbridge Capital. She also served as a vice president at private investment firm Lightyear Capital, where she managed fundraising, marketing and investor relations efforts.
Former Morgan Stanley banker Joseph Perella and former Goldman Sachs veteran Peter Weinberg founded Perella Weinberg in 2006. The firm has about $1.1 billion in capital under management. It provides corporate advisory and asset management services to its global clients.
Dubai-based private equity firm Istithmar PJSC invested $100 million in the firm last June. Its ten other investors include Mitsubishi UFJ Financial Group and Gulf Investment Corporation.