It’s official. MPC Investors today announced launch of the $900 million MPC Samsara hedge fund. The fund’s size will make it one of the largest hedge fund launches in Europe this year. The fund is managed by Ajay Gambhir who joined MPC Investors at the beginning of May.
The MPC Samsara hedge fund is a pan-European directional long short equity strategy, the same strategy as the JPMorgan Europe Dynamic Long Short hedge fund of which Gambhir was the sole portfolio manager. The strategy uses bottom-up stock selection blended with an element of top down overlay.
Gambhir was previously managing director and head of the European high alpha team at JPMorgan Asset Management, running over $8 billion of assets. Gambhir personally managed $6 billion of assets, all of which was in either absolute return or unconstrained vehicles.
“The launch of this fund demonstrates how our business has developed in the last 18 months. Alongside John Innes and Miles Geldard, the launch of Ajay’s fund means MPC now has three of the industry’s most exceptional investors running hedge funds,” said Peter Harrison, CEO of the firm.
“Ajay was very successful as the manager of the JPMorgan Europe Dynamic Long Short hedge fund and we are delighted that he is now running a similar fund at MPC…The $900 million raised was at the top end of our expectations and highlights the confidence investors have in both Ajay and MPC Investors even with the market turbulence of the last couple months.”