Finisterre Capital has become the latest hedge fund manager to build up its in-house legal capability after appointing its first-ever general counsel in the shape of Altima Partners legal chief Ursula Newman.
Finisterre chief investment officer Paul Crean said the decision to appoint a general counsel was a result of the growth of the company’s portfolio in recent years and increasing regulation in the funds market.
Crean told The Lawyer: “There’s more regulation these days and the business is growing, so we felt we’d benefit from having in-house counsel.”
In the past the fund manager has turned to Herbert Smith for the majority of its corporate advice, with Davies Arnold Cooper handling employment matters.
Newman previously worked as an associate at Macfarlanes before going in-house with roles at HSBC and Deutsche Bank.
Finisterre, an emerging markets specialist founded in 2002, doubled the size of its portfolio in 2010 and now has $1.4bn (£880m) in assets under management.