NEW YORK, Aug. 22, 2023 (GLOBE NEWSWIRE) — Unlimited, an investment firm that gives all investors exposure to the alpha-generating potential of alternative investment strategies without the high fees and adverse tax implications of typical fund structures, announced today that Michelle Sullivan has been appointed as Head of Operations and Chief Compliance Officer, effective immediately.
Unlimited launched in October 2022 with the debut of its first product, HFND, an ETF that uses proprietary technology to seek to replicate the risk/return profile of the gross-of-fees returns of the hedge fund industry. The firm recently announced that it raised $8 million in Series A financing to support team growth and product development that could include the addition of ETFs that employ sophisticated investment strategies including global macro, long-short equity, and private equity.
“Michelle joins Unlimited with deep experience across the asset management industry, from startups to the industry’s largest institutions,” said Bob Elliott, CEO and Chief Investment Officer of Unlimited. “As the key driver behind the development of scalable operational solutions within the firm, she will be critical in helping us expand the depth and range of our products in the next stage of Unlimited’s growth.”
“It’s been incredibly exciting to watch how Bob and the team have grown Unlimited as a thought leader and product innovator since the launch of the firm and HFND less than a year ago,” said Ms. Sullivan. “I’m thrilled to be helping the team deliver even more effectively on the mission of democratizing access to institutional-quality investment returns.”
Throughout her 15-year career in asset management, Ms. Sullivan has held a range of strategic roles across operations, compliance, finance, and technology. This includes senior positions at Granite Peak Asset Management, Context Capital Partners, and Bridgewater Associates. At Bridgewater, she helped navigate the firm’s operational transformation, serving in-house for six years and an additional three years on the Bridgewater back-office outsourcing project with Bank of New York Mellon. Michelle holds a BS in Business Management from Guilford College.
About Unlimited
Founded in 2022 by Bob Elliott, Bruce McNevin and Matt Salzberg, Unlimited is an investment firm that uses proprietary technology to create broadly accessible, low-cost index tracking ETFs for 2 & 20-style alternative investments like hedge funds. The firm currently manages the Unlimited HFND Multi-Strategy Return Tracker ETF (NYSE: “HFND”), which aims to track the gross-of-fees returns of the hedge fund industry. Mr. Elliott has built innovative hedge fund strategies for more than two decades, including at Bridgewater Associates, the world’s largest hedge fund. Mr. McNevin is a Professor of Economics at New York University and has held various data science positions at hedge funds Clinton Group and Midway Group, along with positions at Bank of America and BlackRock. Mr. Salzberg serves as a Managing Partner at Material and is a Co-Founder and Chairman of various companies, including Unlimited. Learn more at unlimitedfunds.com.
