NEW YORK (HedgeWorld)--A. Nicholas De Monico, previously a managing director and portfolio manager at Citigroup's hedge fund unit, joined Wilton, Conn.-based Commonfund.
Mr. De Monico will be responsible for managing Commonfund's alternative funds of funds, including hedge, absolute return, index plus and global hedged strategies.
At Citigroup Mr. De Monico managed US$2 billion in hedge fund investments for diversified multi-strategy and single-strategy funds. Before that, he was at CDC Investment Management Corp., a subsidiary of Caisse Des Depots Group. There he ran mortgage hedge positions and relative value Treasury strategies for mortgage-backed securities funds.
"With his mastery of the intricacies of hedge funds and funds of funds, including the myriad of discretionary, relative value and event-driven hedge strategies, he will make an outstanding addition to our strong team," said Bob Bovinette, president and chief executive officer of Commonfund, in a statement.
"Nick brings extensive hands-on experience and a wealth of knowledge in portfolio management and analysis, which he has accumulated throughout a distinguished career," commented Verne Sedlacek, executive vice president.
"I have followed Commonfund since I began my career on Wall Street more than 20 years ago," said Mr. De Monico. "It has always been regarded as one of the nation's premier financial institutions and I am very excited to have the opportunity to join them."