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Quant firm adds former Investcorp exec as president: Reuters

Prashant Kolluri, a former executive at Investcorp and Sterling Ridge Capital Management, said on Tuesday he has joined investment firm Quest Partners LLC as president.

Kolluri will work to boost the assets of Quest, a manager of quantitative hedge funds that controlled approximately $620 million as of May 31. He will also manage operations and sit on the firm’s investment committee.

Quest is led by Chief Investment Officer Nigol Koulajian, who founded the firm in 2001. Its main strategy, used in the approximately $300 million AlphaQuest Original, is systematic trading of commodities, currencies, equity indexes and bonds.

The fund has produced average annual returns of 14.6 percent since its inception in 2001, according to a source who declined to be identified as the performance information is private.

Kolluri was most recently president of Richard Schimel’s hedge fund firm Sterling Ridge. Schimel has joined Citadel to lead a new stock-picking unit and Sterling Ridge is in the process of returning all capital to investors.

Before helping to launch Sterling Ridge in 2013, Kolluri worked at Bahrain-based Investcorp from 1998 to 2013, most recently as acting chief investment officer for its hedge fund investment business.

Investcorp’s overall assets under management now total $10.7 billion, including $4 billion in hedge funds, according to a company spokesman.