P. Schoenfeld Asset Management LLC, a multistrategy investment adviser, has hired Louis P. Friedman to lead a new strategy focused on private investments and long-term public holdings.
Mr. Friedman will be the president and managing partner of that effort, a newly created position, and will sit on the executive committee when he joins P. Schoenfeld this spring, the firm said last week.
Peter Schoenfeld, the firm's chief executive and chief investment officer, will work with Mr. Friedman and oversee the development of the strategy and its risk management practices.
Mr. Friedman was a vice chairman of investment banking and the global chairman of mergers and acquisitions for Bear Stearns Cos.
P. Schoenfeld has $3 billion of assets under management. It has offices in New York and London.
