Alternative investments continue to be a hot growth area for fund companies looking to expand their business. The latest firm to jump in with both feet is
Merrill Lynch. The brokerage giant said that it has established an alternatives investment group under
Ron Rosenberg as a part of Merrill Lynch Investment Managers. Rosenberg, moves to MLIM from Merrill Lynch's Corporate and Institutional Client Group, where he headed Global Hedge Fund Sales and International Fixed-Income Sales since 1995.
Rosenberg's group will house all of the firm's capabilities in the area, the company said. To create the service, Merrill has combined four previously separate units: Merrill Lynch Investment Partners (MLIP), ML Private Equity, MLIM Private Equity and MLIM Alternative Strategies.
"By combining the talent and infrastructure embedded in these groups into one unit, we will streamline our alternative investments business to the benefit of clients," Rosenberg added. "This structure also allows us to eliminate duplicate efforts that existed in different places within Merrill Lynch, and to refocus our efforts around the teams that have enjoyed tremendous performance and client satisfaction."
Rosenberg report to
Jeffrey M. Peek, executive vice president of Merrill Lynch and president of Merrill Lynch Investment Managers (MLIM).
The firm added that Russ Steenberg will continue to manage MLIM Private Equity, and that Roz Goldberg will continue to lead ML Private Equity. Two new appoints were also made as part of the changes. They are
Fabio Savoldelli, who has been named head of the expanded Merrill Lynch Alternative Strategies Group and
Steve Olgin, who joined MLIM in August, and will now serve as chief administrative officer of Alternative Investments.  
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