Independent investment firm welcomes seasoned veteran with 20 years of global industry experience
PenderFund Capital Management has announced Carlo Desierto as the firm’s new president.
Desierto is taking over the position from David Barr, who used to hold the dual role of president and CEO. In his new role, Desierto will oversee Pender’s business growth and corporate strategy; Barr, who remains CEO, will be able to focus more on his portfolio management responsibilities.
“We are delighted to welcome Carlo, who brings incredible depth and breadth of experience, to Pender,” Barr said. “Our plans are centered around accelerating our growth in private equity and institutional asset management, and Carlo will be leading the strategy in these mission critical areas.”
A 20-year investment industry veteran whose career has spanned the globe, Desierto was most recently managing director at Manulife Investment Management Private Markets, where he played a leading role in expanding the global reach of Manulife’s private markets franchise. Prior to that, he was at Manulife Investments taking charge of the investment strategy supporting the company’s insurance products with a focus on long-duration alternative assets such as real estate, infrastructure, private equity, and private credit.
Before Manulife, he spent five years in London, England. During that time, he worked at HSBC Asset Management before moving to a boutique family office where, as the COO, he oversaw the firm’s European expansion that included broadening the firm’s investment capabilities and opening additional offices in Zurich and Moscow.
Desierto began his career in Canada at RBC Capital Markets, where he spent five years as an analyst.
“This is an exciting time to be joining Pender. I am thrilled to become part of such a fast-growing company and its talented team,” Desierto said. “I look forward to leading the firm through its next phase of growth.”