Investment partnership J. Stern & Co has strengthened its client, sales and distribution team, confirming today (10 September) the appointments of Som Bhattacharya, Thomas Steffen, and Steve Butler as senior client directors.
Bhattacharya’s appointment in London will allow the firm to respond to the growing interest seen in emerging market debt as an asset class over the past year, and the firm’s Emerging Market Debt Stars strategy.
The quality-focused fundamental credit strategy has achieved significant absolute and relative performance since inception, averaging 2.5% outperformance net of fees since its 2020 inception. The portfolio of quality emerging market corporate bonds bears a yield to maturity of 9.5% and a running yield of 7.5%, with a 2.5 years’ duration.
Steffen’s (main picture above) appointment in Switzerland follows the announcement made by sister company J. Stern & Co (Switzerland) AG two months ago, confirming that the company had been granted an asset manager licence by the Swiss Financial Market Supervisory Authority (FINMA).
Steve Butler’s appointment underscores J. Stern & Co.’s strategic focus on building the firm’s institutional franchise in the United States, following its successful $325m launch of the World Stars Global Equity Fund LP in March this year.
The trio will join with the firm’s existing client, sales and distribution team to work with current and prospective clients across the company’s strategies.
More specifically, Bhattacharya will bolster the firm’s efforts as it looks to strengthen the distribution of its credit strategies, with a particular focus on its Emerging Market Debt Stars strategy.
Bhattacharya (pictured left) has been focused on emerging market debt his entire 19-year career with Fidelity, Deutsche Bank, JP Morgan Asset Management and Bluebay, raising assets from institutions, wholesale, and family offices in Europe and the US. A CFA (Chartered Financial Analyst) charterholder, Bhattacharya holds a BTech and an MBA from the Indian Institute of Technology and Indian Institute of Management respectively and will be based in the firm’s London office.
Steffen’s appointment comes as J. Stern & Co. looks to raise its profile and widen its client base in Switzerland and follows in the wake of the FINMA licence. With more than 35 years’ experience in the Swiss market, working with Citi, Merrill Lynch, Credit Suisse, Deutsche Bank, and a Swiss single-family office, Steffen has a long and proven track record in raising assets from UHNW clients, entrepreneurs, single and multi-family offices, and institutions. He will be based in the firm’s Zürich office.
Butler (pictured below) joins the firm with responsibility for business development and client service in North America.
He brings more than 30 years’ experience with institutional investors, having worked in sales, consultant relations, and client service roles at AllianceBernstein, Aravt Global, Artisan Partners, and First Eagle Investments (among others), launching his investment career in 1992 with Sanford C. Bernstein & Co. Butler was awarded a BA in Marketing from Santa Clara University and will be based in the New York office.
Jérôme Stern, managing partner said: “We are pleased to welcome Som, Thomas, and Steve to the firm. We are investing in the expansion of our client, sales, and distribution team in line with our long-term investment horizon, which builds on the 200-year banking heritage of the Stern family. Reinforcing our capability in these specialist areas will deepen our efforts at a key inflection point in the growth of our firm.”
With AUM of $ 1.9bn, the firm’s investment strategies comprise its flagship World Stars Global Equity strategy as well as its Multi-Asset Income strategy and Emerging Market Debt Stars strategy. The World Stars Global Equity strategy has AUM of $ 1.6bn , is 5-stars Morningstar rated, and has delivered consistent absolute and relative performance since its 2012 inception.
