Ex-CQS ABS Manager To Launch Own Firm

Sep 9 2013 | 12:55pm ET

The former head of CQS asset-backed securities hedge fund is going into business for himself.

Alistair Lumsden, who left the quantitative hedge fund in December, will launch East Lodge Capital Partners next year, Bloomberg News reports. The London-based firm will focus on European and U.S. credit, especially corporate bonds and structured debt.

Lumsden hopes to raise US$250 million for East Lodge by inception. The firm was registered with British authorities late last month.

East Lodge may employ as many as 14, according to Bloomberg.

At CQS, Lodge was chief investment officer of the ABS Fund, which enjoyed annualized returns of 28% in the six years prior to his exit, including a 73% return in 2008. The US$2.3 billion fund was up 14% when Lumsden's exit was announced.

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