Partners Capital, an outsourced investment office serving endowments, foundations and UHNW families, is set to establish a new office in West Coast in July next year.
The new location in San Francisco will be led by Sudharshan Murugesu, who has been working at the firm since 2013.
Murugesu will be assisted by Partners Capital founder and CEO Stan Miranda, who will work with a San Francisco-based team member and other staff moving from the firm’s other offices.
The firm also operates in London, Boston, New York, Hong Kong and Singapore. It employs 155 staff across these offices and manage over $24bn in assets.
Commenting on the new office launch, Miranda said: “Building out our West Coast presence is the highest strategic priority in the firm today given the role technology will play in the investment world. Asset managers across every asset class should be transforming their businesses in terms of how they source, analyse, and manage their portfolios of investments.
“Every private and public equity investor is looking at companies through more of a ‘technology lens’ as they attempt to ascertain ahead of others who will be the winners and losers from digital transformation. To fully appreciate the pace and scale of this transformation, we must have a physical presence in the Bay Area.”
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By GlobalDataThrough the new office, which will initially house five to seven professionals, the firm will tend to several existing West Coast customers. These customers include the LA Museum of Contemporary Art (MOCA), The Seaver Institute and some Californian private clients.
The West Coast team will be mainly supported by the firm’s 47-member Boston office.