- Richard Scarinci to run portfolios at Partners Capital
- Partners manages money for Milton Academy, Cancer Institute
Richard Scarinci, a managing director for Blackstone Group LP, joined Partners Capital, which manages $17 billion for endowments, foundations and others.
Scarinci, 34, a co-portfolio manager in Blackstone’s hedge fund solutions group, was named a partner and will manage several large institutional clients in North America beginning in September, Stan Miranda, Partner Capital’s chief executive officer, said Tuesday in a statement.
Partners Capital, with offices in London, Boston, Hong Kong and elsewhere, manages about $6 billion for clients in North America including Milton Academy and the Cancer Research Institute. Other institutional clients include 11 of the Oxford and Cambridge colleges, Eton College, and Royal Academy of Arts, according to the statement.
Scarinci “will contribute to our ongoing efforts to find and access the rare group of managers who are likely to generate significant outperformance,” Miranda said in the statement.
Scarinci joined Blackstone in 2003 and was responsible for hedge fund manager evaluation, selection and monitoring, with a primary focus on portfolio management, according to the statement. The company’s alternative asset management group oversees $69 billion of assets, according to its website.
Among the shareholders in Partners Capital is Lord Rothschild, head of the Rothschild family in the U.K. and an independent investment adviser to wealthy European families and foundations, and Ronald Cohen, a co-founder of private equity firm Apax Partners, according to bios on the firm’s website.