Gabelli Securities, a subsidiary of GAMCO Investors, has added a hedge fund veteran, Joel Torrance to bolster its alternative investment fund business.

Previously, Torrance spent nearly a decade with fund of hedge fund shop Global Asset Management (while under UBS ownership) where he assisted in manager selection and the construction of multi-manager products.

"As we enter a major growth phase in our alternatives business, we are pleased to have the benefit of Joel's significant knowledge and experience in the hedge fund space,” stated Michael Gabelli, managing director, alternative investments.

Gabelli Securities, which began managing its first fund, the Gabelli Associates Fund, in February 1985, is approaching $1 billion in assets under management, according to the firm.

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