Tuckerbrook Alternative Investments hired Sameer Sudame as director of global distressed research. He will work alongside Managing Partner Sumanta Banerjee on the firm's distressed securities fund of funds. Sudame was previously an independent investment banking consultant on a specialized range of high-yield, distressed and restructuring projects. He joined Sept. 7.
Sudame, who has also worked for Bayerische-Hypovereins and JP Capital Management, said he joined Tuckerbrook to be part of a growing, dynamic firm. He was impressed with the firm's staff, in particular Banerjee. Although his new role entails a move into investment management, he perceives it as a continuation rather than a change because he has spent most of his career analyzing high-yield and distressed investments.
The global distressed fund of funds, which recently had its first close at around $50 million, will have invested with seven managers by the end of this month. Tuckerbrook aims to have a final close in the first quarter and be invested with 15 to 18 managers, said Moses Grader, principal, marketing and portfolio strategy. Most of the firm's clients for its distressed fund are foundations, endowments and family offices, but the strategy is also being marketed to pension plans and high-net-worth investors.