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The asset management unit of the global banking firm has hired Alexander Frick to focus on secondaries investments out of its Geneva office.

The Boston-based firm was founded by Solomon Owayda and Christine Patrinos through a relationship with Monument Group.

The secondaries firm has lost an eight-year partner who focused on investment analysis for secondaries and co-investment deals.

As the secondaries market matures, strategies have become more diverse. Ardian, Azini Capital and 17Capital are three firms that stand out.

The Canadian pension fund giant is looking to recruit a professional to focus on European secondaries and co-investments.

The firm will use the office primarily for infrastructure and mid-cap investing.

The firm hired Matthew Coyne and promoted Kyson Hawkins, both of whom will focus on all private market transaction types TorreyCove is involved in, including secondaries.

The hiring comes a few months after investment consultant NEPC recommended that the $3.1bn pension plan makes its first commitment to a secondaries fund.

The secondaries executive joins Auda to manage three funds the firm has purchased from Thomas Weisel, according to a statement.

Jim Strang’s appointment reflects the growth in the alternative investment management firm’s UK business.