LGT Crestone scales alts capabilities with senior appointment
Wealth management firm LGT Crestone has appointed Darragh Kennelly as senior investment analyst to strengthen its chief investment office and help the firm scale its alternatives platform.
Kennelly will work with Martin Randall, the firm’s head of private markets, Kevin Wan Lum, deputy chief investment officer, and investment analyst Nicola Williams to help deliver investment solutions to the firm’s high-net-worth (HNW) and ultra-high-net-worth (UHNW) clients.
According to the firm, LGT Crestone has grown its alternatives exposure from $150 million in 2016 to more than $9 billion, with the expansion primarily driven by a “deliberate strategy to translate traditionally institutional-only opportunities into accessible, high-quality solutions for private clients”.
Prior to joining the firm, Kennelly was a senior investment analyst for six years at Escala, during which time he co-led the firm’s alternatives research and ESG strategy, and managed a portfolio of alternative strategies across private equity, private credit, infrastructure, hedge funds, and venture capital.
Over his 15 years of experience in financial services, he also held investment roles at Prudential International Assurance, Dexia Credit Local, and Harvest Financial Services in Dublin.
Speaking on the announcement, LGT Crestone chief investment officer Scott Haslem said Kennelly’s mix of experiences across alternatives, portfolio construction, and ESG will make him a valuable addition to the firm’s investment team.
“His appointment builds on the momentum of our alternatives platform and supports our focus on delivering sophisticated, institutional-grade solutions to Australia’s most affluent families and individuals. We’re delighted to welcome him to the firm.”
Adding to this, Kennelly said: "The alternatives landscape is growing rapidly, with increasing demand for bespoke private market solutions from private clients for institutional quality investments. LGT Crestone has built a compelling platform and I’m excited to be part of its next phase of growth.”
Earlier this year, the firm picked up the high-net-worth financial advisory arm of Commonwealth Bank, which brought across $5 billion in assets under advice and 38 investment professionals.
AUTHOR
Shy-Ann Arkinstall
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