GAM Hires Prominent Co-Head for Alternative Investments

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The new Co-Head of the GAM Alternatives unit is no stranger, having briefly been the designated CEO of the Swiss asset manager in 2023.

The Swiss-domiciled and publicly listed asset manager GAM, which has had challenging years with corresponding headlines, is rebuilding – at least in the area of alternative investments. The company announced on Monday that it has recruited Randel Freeman as Co-Head for the new specialized unit, GAM Alternatives.

Together with the second Co-Head, Albert Saporta, Freeman’s task is to develop the unit as a platform for alternative investments, thereby complementing GAM’s existing offerings in more traditional areas (equities, fixed income, and multi-asset strategies). With this move, GAM aims to seize the «strategic opportunity» to «meet growing investor demand, differentiate our offering, and leverage our strengths and expertise in active management.»

Connection to TT

Freeman is no stranger to GAM. As reported by, he was appointed CEO of the asset manager by an investor alliance at the end of August 2023 but withdrew his candidacy a few weeks later for family reasons.

Freeman brings over 30 years of experience in the global hedge funds industry. From 2017 to 2023, he was a member of the investment committee of SSVL Monaco, an activist fund based in Monaco that focuses on small and mid-sized European companies, with Ticino financier Tito Tettamanti serving as honorary president. From 2014 to 2016, he was CIO of the Fortress Centaurus Global Fund.

«Reviving GAM’s Founding DNA»

Freeman became known in the industry as a co-founder of Centaurus Capital, a hedge fund he led as CEO and CIO from 2000 to 2014 (until its sale to the Fortress Investment Group). Freeman, who holds British, American, and Swiss citizenship, is also familiar with the banking world, having previously been Co-Head of the Risk Arbitrage department at Banque Paribas in London and an Associate at Goldman Sachs in New York.

The current holder of the position Freeman originally aimed for is also pleased. «Freeman will revive our founding DNA in the area of alternative investments and complement our already strong offerings in high-conviction equity, specialist fixed income, and multi-asset investment solutions,» Elmar Zumbühl is quoted as saying in the statement.

GAM managed assets of over 64 billion Swiss francs at the end of 2023. However, at the end of January this year, the Fund Management Services division (45 billion Swiss francs) was sold to Carne.