RueOne Investments, an alternative asset manager that offers institutional asset owners and family offices direct investment opportunities, has appointed Michael Caro as director of partnerships.
Caro, who is also a partner in the firm, is responsible for overall business development – cultivating relationships with RueOne's asset manager partners and global investor base.
Caro brings extensive buy and sell side experience and relationships and a 15-year track record in institutional sales and client relations, with particular expertise working with esoteric investments and less liquid assets.
Caro joins RueOne from Canaccord Genuity where he was a vice president in the fixed income group, leading sales for hedge funds and mutual funds focused on high yield and distressed credit.
RueOne founder and CEO Jeff Baehr created RueOne in 2016 on the realisation that the prevailing commingled fund model for investing in alternatives was failing both investors and managers alike. RueOne is a new type of alternative asset manager offering institutional and family offices a la carte access to direct investment opportunities on a deal by deal basis. Investors can invest directly in a diverse range of individual investment opportunities such as a single private equity or a piece of mezzanine debt – not funds.
"RueOne offers institutional and family offices a better way to invest in alternatives," says Baehr. "Michael brings valuable experience on both the sell-side and buy-side having worked closely with hedge funds selling securities and in his roles in fundraising and as an analyst on the buy-side, where he developed a deep familiarity with the investment needs of large institutions. He brings strong relationships with institutional asset owners and asset managers to complement our extensive global network. We are thrilled to have him on our team."
"I'm delighted to be working with our investor partners to find specific deals that best meet their portfolio objectives," adds Caro. "I also look forward to finding asset manager talent who can benefit from our innovative approach to getting them the capital they need to grow their businesses and their brands. I'm excited to be working with a team that recognizes that there is a new and better way to invest in alternatives where interests are aligned and everyone can benefit."
In addition to his role at Canaccord Genuity, Caro held prominent positions for additional sell-side firms. For four years, he was a vice president for the fixed income team at the Seaport Group focusing on high yield and distressed credit sales. Previously, Caro was the director of business development for Armory Advisors, where he was responsible for raising capital for a credit focused hedge fund and sourced potential limited partners.
Earlier in his career Caro was the head of alternative investments at Gilford Securities where he launched the alternatives investments platform specialising in raising capital for hedge funds.
