Fundraising has begun for what is expected to be one of the largest hedge fund launches of the year.
Pierre-Henri Flamand, the former head of Goldman Sachs’ largest proprietary trading desk, has started meeting with investors in the U.S. and Britain in advance of the November launch of his hedge fund, Edoma Partners. The new fund, which has the backing of Flamand’s former employers, could raise more than $1 billion.
The global event-driven fund is set to launch on Nov. 1, The Wall Street Journal reports. Flamand is in the process of registering his new London-based Edoma Capital with regulators and has been actively recruiting. The firm has already hired seven people, including some other Goldman veterans, and plans to have a team of 20 in place before launch.
Among the notable names working at Edoma are Ali Hedayat and Emmanuel Niogret, who worked under Flamand at Goldman Sachs Principal Strategies before his departure last month, and Martina Slowey, the former UBS prime brokerage chief who will serve as chief operating officer of the new firm.
Edoma will charge 2% for management and 20% for performance, with discounts for those investors willing to accept a two-year lockup. The fund will feature quarterly liquidity.