Pensato Snags Ex-Fido, Citadel Analyst

Sep 6 2012 | 10:54am ET

Hedge fund Pensato Capital, founded four years ago by a group of Fidelity Investments veterans, has added another to its ranks.

The €250 million long/short equity specialist, which focuses on Europe, hired Jonathan Relph as an analyst on Monday, Financial News reports. Relph is a top-rater construction and building materials analyst, who worked at Fidelity from 2005 though 2009, his first years overlapping with Pensato founder Graham Clapp's last.

Relph himself left Fido in 2009 to join Citadel Investment Group, which he left last year.

"Graham is one of the most experienced investors in Europe. He has a great track record and a phenomenal team behind him," Relph told FN. "In a period when European markets have been tough waters to negotiate, Pensato has shown bottom-up fundamental stock-picking still works. I think the fund outlook is one of the bright spots for the European long/short industry."

Pensato's Europa Fund is up 10.33% this year.

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