Odey Adds Fund Of Funds Group

Jun 17 2008 | 2:00am ET

Odey Asset Management may be getting out of the Japanese hedge fund business, but it is getting into the fund of hedge funds business.

Odey Wealth will run a new vehicle, Odey Opportunity, that draws on the ideas of the firm’s founder and chief investment officer, Crispin Odey. In addition to the fund of funds, it will also manage segregated accounts.

London-based Odey has hired a pair of executives from Credit Suisse to head the new Guernsey, Channel Islands-based division. Geoff Marson and Shaun le Messurier joined Odey in January from Credit Suisse’s private client business. Marson was head of investments in Guernsey, and Le Messurier was vice president in charge of hedge fund selection.

Last week, Odey announced it had liquidated its Japan & General Fund, which had been beset by heavy losses and huge redemptions.

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