The former head of UK liability-driven investment at Axa Investment Managers has been recruited by Ashburton Investments, the newly-launched investment manager from African financial services group FirstRand.

According to the Ashburton's website, Shalin Bhagwan is now head of solutions for institutions, where he is responsible for risk management solutions for the firm's institutional clients, including pension schemes and insurers. Bhagwan and Ashburton Investments did not respond to requests for comment.

New African asset manager hires Axa's former LDI head

Ashburton Investments was launched by the African financial services group FirstRand this week

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The hedge-fund founder is asking triple what he paid for the Bali-inspired Manalapan estate in 2017.

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The announcement comes as USS Investment Management said it won’t bid for the property firm.

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The U.S. private-equity firm said t decided not to begin a tender offer for the Japanese software company after consulting with Fuji Soft founder Hiroshi Nozawa.

Successful firms are increasingly split between behemoths with several business lines and those focusing on their roots of buying companies.

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The Chinese technology giant has begun tests to integrate homegrown startup DeepSeek’s AI model into its Weixin messaging app.

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