Pendragon To Rise Again As Founders Chart Comeback

May 24 2010 | 12:23pm ET

Pendragon Capital is coming back. The event-driven hedge fund shop closed last year after its flagship lost 40% in 2008 and founders Julian Harvey Wood and Kaveh Sheibani joined GLG Partners. But Harvey Wood and Sheibani chafed under GLG’s aegis, leaving the firm in February with plans to relaunch Pendragon anew.

The two plan to apply to the Financial Services Authority to start a new firm with the old name, and will launch a new hedge fund in the fourth quarter.

“I found it harder to work in a corporate environment after having done my own thing for 10 years,” Harvey Wood told Financial News.

GLG has since agreed to be acquired by the Man Group.

At GLG, Harvey Wood and Sheibani headed the event-driven team. They were replaced by another pair of hedge fund chiefs, Tisbury Capital Management’s Gerard Griffin and Gerald Lucaussy.

The new Pendragon is set to begin meeting with potential investors over the next few weeks. Harvey Wood told FN that he’d like to see the fund raise between US$250 million and US$500 million in its first year.


In Depth

Q&A: Old Hill's Stone On Private Debt, P2P And Credit Bubbles

Jun 6 2017 | 7:52pm ET

While institutional capital continues to flow into the broader private debt sector...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of