Kestrel Global Portfolio


John Ricciardi,

John Ricciardi


John is the manager of the Kestrel Global Portfolio. Before co-founding Kestrel Investment Partners LLP, he was head of global asset allocation for Iveagh. He founded Bullrun Financial, a pioneer of quantitative portfolio strategies for institutions and advisers and co-founded Cursitor Management, one of the first firms to offer top-down, global asset allocation solutions for institutions. On selling Cursitor to Alliance Capital in 1996, John became head of global asset allocation for AllianceBernstein, with $450 billion under management worldwide.

Gustaf Hagerud,

Gustaf Hagerud


Before Gustaf joined Kestrel Investment Partners LLP in March 2015, he was head of the Asset Management and deputy CEO of Third Swedish National Pension Fund, AP3. When Gustaf left AP3, assets under management were approximately EUR 30 billion. AP3 has investments in global equities, global bonds, hedge funds, private equity, real estate, forestry, infrastructure and insurance linked securities. Prior to working at AP3, Gustaf worked for ten years with global tactical asset allocation at Alecta and AP1. Before that he held positions at Nordea and Swedbank as a trader of fixed income instruments, equities and foreign exchange. In total, Gustaf has 29 years of experience in the financial industry. He holds a PhD in Finance from Stockholm School of Economics, a MA in Economics from University of British Columbia and a BA in Economics from the University of Stockholm. Gustaf’s research is focused on volatility forecasting. He is also an author of a textbook on the Swedish financial markets.