Jabre's Saleur Joins Duet Group

Apr 26 2011 | 12:45pm ET

A former GLG Partners fund manager is leaving Jabre Capital Partners, and taking his hedge fund with him.

Renaud Saleur has agreed to join London-based Duet Group. He will continue to manage the US$50 million Mangousta fund, launched for him in late 2007 at JabCap, at Duet. Saleur managed a similar strategy at GLG before following Jabre, the firm's former star trader, to his new firm.

"It's an amicable departure and we wish Renaud well," Jabre told Financial News.

Saleur echoed that sentiment.

"It's a totally amicable departure," he told FN. "In the past I'd explored the possibility of joining Duet and I decided that now is the right time to be totally independent. I see a lot of synergies with Duet."

At Duet, Saleur plans to launch a whole range of funds to manage alongside Mangousta. A long-only global growth and income fund will come in June, followed by an onshore version of Mangousta. Both of those funds will be seeded by a French insurer.

Saleur also plans to create a long-only, concentrated best ideas funds, which will invest in a dozen "best ideas" culled from his funds.

In addition to Mangousta, which fell 4% in 2008 before rising 20% in 2009 and 2% last year, Saleur is also bringing a former colleague from Fidelity Investments, Thierry Serero, who will join Duet next month. Serero is currently a fund manager at Octopus Investments.

For his part, Saleur worked at Soros Fund Management and Moore Capital Management before joining GLG in 2002 to launch the first version of Mangousta.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR