Robert Picard, who built and managed the institutional hedge fund business for the Carlyle Group, has left to become head of research at New York-based Optima Fund Management which has $3bn (€2.4bn) in assets under management.

Picard replaces Allen Cheng who left Optima, a hedge fund specialist, a few months ago.

Pirkko Juntunen

Carlyle Group

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Optima hires Picard

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