Older will work in London from 1 July alongside founder Edouard Carmignac. He will be in charge of Carmignac’s global fund exposure to communications, media, internet and information technology, also contributing to the generation of other investment ideas.
Older has spent the past 12 years at SAC Capital/Point72 Advisors in New York, most recently as co-sector head of communications, media, internet and technology. Prior to this, he worked in the communications and media group at Morgan Stanley and completed an MBA at Columbia University.
“Thanks to David Older joining our team alongside our analyst Tim Jaksland, we are significantly increasing our investment expertise in communications, media, internet and information technology stocks, four key sectors in our current positioning that will shape tomorrow’s world,” said Edouard Carmignac.
“We are also gaining considerable experience in alpha generation and long-short management, which will help us generate performance under all market conditions and give us the complete range of risk management expertise,” he added.