By Chris Glynn
Longtime alternative investment
professional Robert Picard has joined
private wealth manager Hightower.
Picard will work in the newly created role of managing director, head of alternative investments, for the investment group, Hightower noted in a media announcement.
Picard will focus on the private market, where Hightower is leading fund scouting and selection for its registered investment advisor client base. Hightower has $117.7 billion under management as well as $141.5 billion under administration.
Picard headed alternative investing for $15 billion First Republic Private Wealth Management, which he joined in late 2019. He has also worked for The Carlyle Group, The Royal Bank of Canada and State Street Corporation for its InfraHedge hedge fund platform.
Hightower has 10% of its asset base allocated to the hedge fund industry as well as private debt and equity. He will report to Stephanie Link, chief investment strategist and head of the investment solutions group.