People

Ares hires ex Macquarie pro for Australia push

Teiki Benveniste joins as head of the joint venture between Ares Management and Australian asset manager Fidante Partners.

-

Ares Australia Management has hired Teiki Benveniste from Macquarie Group as its new head.

AAM was formed in October last year as a joint venture between US credit giant Ares Management and Fidante Partners, an Australian multi-boutique asset manager.

A statement said Benveniste would be based in Sydney and take responsibility for building investor interest in the asset manager and increasing assets under management as it launches a range of investment strategies.

Benveniste will liaise with Fidante Partners, which is providing product distribution, local fund reporting and back office administration.

He spent the past six and a half years at Macquarie Group, most recently as lead senior investment specialist for Macquarie Fixed Income in Australia, where he managed a team of product and investment specialists covering retail and institutional investors.

Prior to Macquarie, he spent seven years in London with Société Générale in roles covering trading, credit analysis and sales for loan syndications across Europe, the Middle East and Africa.

AAM said it expects to launch its first credit fund in the coming months, with further strategies to follow.

Fidante, a large multi-boutique asset manager, had more than A$60 billion ($40.49 billion; €36.81 billion) of funds under management at the end of September last year. It is part of Challenger Limited, the Sydney-based investment management company.