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AAA Welcomes KPMG Bolstering of Alternatives Team
AAA has welcomed moves by global auditing and accountancy firm KPMG to expand its alternative investment team by adding five new members in the US.
The advisory firm has taken on Ted Carreiro to join its alternative investment fund practice in Boston. Carreiro is the former managing director of State Street Bank and Trust’s AIF division and has more that 18 years experience.
KPMG is also taking on Phillip W. DeSalvo, who has worked with a large number of businesses before to help them to instigate transactions, structure and execute deals. Michael R Richards is another new addition and has over 22 years of relevant experience. He will lead the KPMG transaction services practice in the West Coast region.
The boost to the alternative investment team reflects the increase in interest in alternatives as individuals and institutional investors struggle to make significant returns when invested in savings bonds and the stock market. “The stock market is pretty inactive and interest rates are at historic lows,” asserted AAA’s analysis partner, Anthony Johnson.
KPMG said in an official statement that alternatives were becoming increasingly important to the firm. “KPMG is committed to becoming the market leader in serving the alternative investments industry and our latest additions to the team demonstrate our goal to have the broadest set of skills and in-depth knowledge of the most important regulatory and business issues facing the industry,” said Al Fichera, national partner in charge, alternative investments-
AAA supports range of alternative investments, including timberland investment through sustainable plantations such as the one run by Greenwood Management in Brazil.
AAA claims that timber prices are set to rise of the back of more activity in the Chinese, Indian and US housing markets. As a result, it could be the best time for a while for investing in timberland.
About Alternative Asset Analysis:
The remit of Alternative Asset Analysis is to analyse and provide news on the global performance of a wide range of alternative asset classes including, but not restricted to, commodities, real estate, forestry, foreign exchange, hedge funds, private equity and venture capital.
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