Peter Stein, 45, has returned to the hedge fund world after nearly a decade managing endowments, including four years as CIO of the University of Chicago and five at Princeton University. Last month, Jane Buchan, CEO of Pacific Alternative Asset Management Co., a $9 billion fund-of-hedge-funds firm, hired Stein to take on a senior management role at the Irvine, California–based manager, where he will be involved in all stages of the hedge fund investment process.
In the 1980s the peripatetic Stein, whom Buchan has known for 20 years, worked on Wall Street before going on to trade non-U.S. equities and equity derivatives, first at Princeton/Newport Partners, a now-defunct hedge fund in Princeton, New Jersey, and then at HSBC Securities in Tokyo. Paamco, which specializes in creating portfolios from an array of managers that don’t fit neatly into style boxes, should benefit from Stein’s experience.
