JERSEY, Channel Islands (HedgeWorld.com)–Liberty Ermitage Group is in the middle of an expansion of its work force as its hedge fund assets under management climb over the U$1 billion dollar mark.

The firm is looking to hire U.S. marketing and distribution professionals and already has added two traders, an in-house marketer, two hired-gun marketers and a senior operations executive in Luxembourg, according to a statement from the firm. Charles Howlett was named a senior portfolio manager who will work with Ian Cadby, deputy chief investment officer and head of strategic investments, on managing Liberty’s Strategic Partners fund. Also brought on to work with Mr. Cadby is foreign exchange and interest rate specialist Alan Scrimger.

Liberty also hired Nina Lesavoy and George Skouras of Cue Capital LLC, New York, to assist with its marketing and distribution in the United States, particularly for the Strategic Partners Fund. The Strategic Partners fund takes the innovative approach of investing both in hedge funds and in the companies that manage them Previous HedgeWorld Story.

The launch of the Strategic Partners fund and two others, the Global Strategy fund and a Gold & Resources Fund, resulted in US$280 million in new assets for Liberty Ermitage, which allowed it to grow above US$1 billion in assets, the statement said.

Liberty Ermitage manages US$1.1 billion in hedge funds and US$2.5 billion overall. It is owned by Liberty Group, a South African life insurance company.

PBarr@HedgeWorld.com