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Irvine, California–based Pacific Alternative Asset Management Co., a fund-of-funds firm focused on creating diversified funds with emerging managers, has enjoyed tremendous success since it was established in 2000 by CEO Jane Buchan, James Berens, William (Bill) Knight and Judith Posnikoff. Within three years, the founding crew launched London-based PAAMCO Europe, tasked with referring potential clients and performing due diligence on primarily Europe-based hedge fund managers, and in 2006 launched PAAMCO Asia in Singapore. Assets under management stand at $15.7 billion. In 2012, Institutional Investor magazine nominated PAAMCO for its Large Fund of Hedge Funds Manager of the Year award…