Saturday, 28 November 2015
Last updated 13 hours ago
Oct 5 2011 | 1:55pm ET
Former Gartmore Group star Guillaume Rambourg is set to launch at US$1 billion hedge fund—but without his longtime partner, Roger Guy.
Rambourg's Paris-based Verrazzano Capital has already hired 15 employees and has applied to France's Autorité des Marchés Financiers for a license. It's not expected to have any problems on that front, despite Rambourg's suspension from Gartmore last year and the loss of his trading license in London: The Autorité has been eagerly encouraging Rambourg, a French-Canadian, to set up shop in Paris. Rambourg had been considering Geneva, Switzerland, and London as possible bases.
Verrazzano will feature former Goldman Sachs trader Karim Moussalem and former Gartmore analyst Tomas Pinto. But it will not boast Guy, who retired from Gartmore last year, unhappy with the firm's treatment of Rambourg. Guy has retired from the investment management industry, a Verrazzano spokeswoman said.
Guy or no, Verrazzano is expected to raise as much as US$1 billion for a stock fund to launch next year. The firm plans to begin fundraising this year.
In addition to Rambourg, Moussalem and Pinto, Verrazzano—named for the bridge in New York, and not for the Italian explorer for whom that bridge is named; Rambourg is an avid runner of the New York Marathon, which begins on the bridge—also features Lyxor Asset Management founder Murielle Maman and Tim Williams, a former senior investment officer at UBS' hedge fund business.
Rambourg was cleared earlier this year by the U.K.'s Financial Services Authority over allegedly directing trades to favored brokers. Gartmore suspended him last year, beginning a downward spiral that concluded with the firm's sale to Henderson Global Investors earlier this year.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…