Friday, 21 October 2016
Last updated 11 hours ago
Jan 21 2011 | 1:25pm ET
Swiss fund of hedge funds EIM is losing its London chief and his royal touch.
Philipp von Habsburg is set to leave the firm, headed by Arpad Busson, to set up a third-party marketing firm, Financial News reports. Von Habsburg's Trinity Capital Partners will seek to serve European, Middle Eastern and Asian hedge funds.
Trinity Capital is affiliated with financial advisory firm Trinity Group. Trinity Group CEO Edward Frazer said von Habsburg will be joined by four others over the next several weeks and is already in talks with two possible hedge fund clients.
"Investors in hedge funds got stung during the crisis and have been slow to come back to the market," Frazer told FN. "They are beginning to dip their toes back in the water and we believe that there will be great opportunity in the next few years."
Von Habsburg, a descendant of the family that ruled wide swaths of Europe until the end of World War I, will remain at non-executive director of EIM UK. EIM, which manages US$8 billion, plans to replace von Habsburg with managing director Katrina Phillips.