Tyrus Quits London For Monaco

Apr 11 2012 | 1:30pm ET

Tyrus Capital has all but left London, relocating most of its staff—including its top staff—to Monaco.

Tyrus, the largest European hedge fund launch of 2009, had opened an office in the miniscule principality on the French Riviera last year, giving some staffers the chance to skirt higher British taxes. At the time, it was reported that Tyrus, which has US$1.8 billion in assets, would remain headquarter in London, with both founder Tony Chedraoui and chief operating officer Mark Madden remaining in the British capital.

But both Chedraoui and Madden have moved to Monaco, along with most of Tyrus' staff, Reuters reports. Also making the move were investor relations chief Charles Hopkinson-Woolley and partner Xavier Portes, whose Financial Services Authority registrations have become inactive. In addition, all four have resigned as directors of Tyrus Capital LLP .

According to a regulatory filing for Tyrus Capital Services, Chedraoui is now a resident of Monaco.

The motivation for the move seems to be impending European Union regulations. Monaco, like Switzerland, another popular destination for London hedge fund managers fleeing taxes and regulations, is not a member of the 27-nation bloc.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note