JUNE 2008
SINGAPORE (30 June 2008) - 3 Degrees Asset Management, a private investment firm, announced today that Michael Gilmore has joined the firm as a Managing Principal. Mr. Gilmore will oversee the firm’s daily operations, sit on the investment committee and will be a portfolio manager of ADF Special Opportunities LP (ASO).
Mr. Gilmore brings over 12 years of Asian equity market experience to 3 Degrees. During this time, he was the Head of Asian Consumer and Media Research for both Nomura and UBS AG, and was previously Head of Indonesian Research for UBS. He has been ranked as the #1 Head of Indonesian Research, the #2 Asian Consumer Analyst and the #3 Media Analyst by Institutional Investor, and has been top ranked in AsiaMoney surveys. Mr Gilmore has been the lead analyst for several of Asia’s landmark IPOs: Korea’s Lotte Shopping (US$11bn) - the world’s largest retail IPO, Malaysia’s Astro All Asia - Asia’s largest media IPO, and Singapore’s Starhub - a unique combination of both telecom and media assets.
Moe Ibrahim, Managing Principal and Founder of 3 Degrees, said, “Michael epitomizes the calibre of the 3 Degrees investment team, having been recognized, on numerous occasions, as one of Asia’s leading equity analysts. He joins at a time when global default rates are rising and equity markets are hitting bear territory. As default rates rise, equity valuations will collapse, creating an opportunity to acquire world class Asian companies at fire sale valuations. We are confident that Michael’s impressive track record in Asian equities, coupled with our unmatched expertise in Asian distressed debt, will cement 3 Degrees at the top of the performance charts.”
Mr. Gilmore said, “I am very excited to join such a strong core of investment professions. 3 Degrees has already established itself as a highly respected player in the Asian distressed debt market. I look forward to leveraging off that position to help the firm grow in both its existing and new product lines.”
Prior to Nomura and UBS, Mr. Gilmore worked for DBS Securities as Head of Indonesian Research.
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