Aoifinn Devitt, who spent four years heading up the European hedge fund practice at Cambridge Associates in London, has left the firm to establish Clontarf Capital, an advisory firm specialising in non-traditional asset classes, in particular hedge funds, private equity, commodities and real-estate. The firm is aiming its services at family offices, charities, pension funds and other institutions, and will provide advice relating to both funds of funds and direct funds.
“Diversifying across alternative assets continues to grow in popularity, but as the number of funds on offer has soared and fees and lock-up periods have become more punitive, there is a real need for independent, unbiased advice to enable investors to separate the wheat from the chaff,” says Devitt. “There is a gap in the market for an independent advisor that can advise across the spectrum of alternative assets. This is particularly relevant today as traditionally discrete sectors, such as private equity and hedge funds, have started to overlap.”
The firm will provide advice, research, due diligence and offer tailored products according to client needs, she says.
While at Cambridge Associates, Devitt advised on six separate accounts, invested in direct hedge funds, and led numerous fund of fund searches for charities and other institutions. She also spearheaded the European hedge fund research effort.