Global investment manager PineBridge Investments, which manages $11.1 billion in alternative assets including secondaries, has appointed Gregory Ehret as its new chief executive from 25 January.
Ehret comes from State Street Global Advisors (SSGA), the investment management arm of State Street, where he served as president and member of the executive management group. He’s a 20-year veteran of SSGA. Most recently, he was responsible for global client outreach, product development, marketing, operations and technology.
“Greg is an industry veteran with an impressive track record of growing a global business across both developed and emerging markets,” said PineBridge chairman John Thornton. “His leadership and operational expertise will position PineBridge to continue providing our clients with an integrated global perspective and a unique investment offering.”
Ehret replaces Stephen Fitzgerald, who is currently serving as interim chief executive and who will continue to serve as deputy chairman, a role he has held since 2013. Fitzgerald was appointed in March when former chief executive David Jiang resigned.
New York-based PineBridge has $77.6 billion in assets under management in several asset classes including fixed income, equities and alternative investments.
At the beginning of the year, the firm closed its third secondaries fund, PineBridge Secondary Partners III, with $307.9 million, shy of its $500 million target, Secondaries Investor previously reported.
The firm had previously dropped its target from $1.1 billion to $500 million in June 2013, according to PEI’s Research & Analytics division. It saw two high profile secondaries departures in December 2012, when head of secondaries Harvey Lambert and senior executive Kennon Koay left.