Sunday, 23 October 2016
Last updated 1 day ago
Jan 19 2011 | 10:41am ET
Frederic Denjoy’s stay in Switzerland has been a short one. The Brevan Howard Asset Management partner, who relocated to Geneva last year, is returning to London to launch a hedge fund of his own.
Denjoy Capital Partners’ maiden fund will debut on May 1, Financial News reports. Denjoy, who is leaving Brevan Howard with his share of the £204 million the hedge fund giant paid out to partners earlier this month, will manage a Europe-focused long/short equities strategy.
The new firm will also feature Denjoy’s analyst for the past four years at Brevan Howard, Leo Guo. The nascent firm has also hired Raza Khan and Jenny Ponsonby from Powe Capital Management, the former as chief operating officer and the latter as chief risk officer. All told, Denjoy is expected to have eight employees at launch.
Brevan Howard is not seeding Denjoy; instead, the firm is relying on family and friends for its initial capital. Denjoy will be reaching out to outside investors over the next few months, but the new firm will launch with a limited capacity.
Still, Denjoy’s background and track record will likely have investors clamoring for a piece of the new fund when he decides to launch a serious fundraising effort.
Denjoy is returning to London despite higher taxes in the U.K. and his own background: He is half-Swiss. According to FN, Denjoy is picking the British capital over his ancestral home for both business and personal reasons.