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Ex-Shell Pension deputy CIO joins Gartmore

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UK – Nick Shaw, former deputy chief investment officer for Shell Pension Management Services, has been appointed by Gartmore as it expands into private equity.

Gartmore announced that it establishing a separate private equity business to launch in the early part of 2004. It has appointed Nick Shaw as deputy managing director.

Says Mark Robertshaw, chief financial officer at Gartmore: “We have undertaken a strategic review of the investment market and have concluded that a major growth opportunity exists within the private equity business.”

The new business will be headed up by Peter Gale, Gartmore’s current private equity managing director. Gartmore currently manages around 600 million pounds (856 million euros) in private equity assets.

But a spokesman explained that it “will now be dedicating a team to developing the private equity business, and introducing new products”. The private equity team will be 10-strong.

The expansion to include the new area fits in with Gartmore’s strategy to become a diversified specialist investment manager. Gartmore recently bolstered its positioning in the areas of hedge funds and multi-management. This week it announced an alliance with global hedge fund manager Aspect Capital, while last month, the company poached five of Insight Investment’s multi-management team. The spokesman said Gartmore had shifted slightly away from being a balanced manager to offer more specialist products.

Gartmore manages 48.8 billion pounds (70 billion euros) in assets under management.

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    Asset class: Real Estate Equity Fund (non listed).
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    Closing date: 2019-06-28.

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