Lombard Odier Investment Managers will lift out the Volantis team from AlphaGen Capital with more than $1 billion in U.K. equity long/short and long-only strategies moving to its hedge fund strategies platform, a spokeswoman said.
The eight-person team will be based in London. AlphaGen Capital is a subsidiary of Henderson Global Investors.
Day-to-day portfolio management is not expected to change, said a news release Wednesday. .
The liftout is subject to conditions including including board approvals, regulatory approval and investor votes. The deal is expected to be completed in the first quarter of next year.
“Attracting this team to Lombard Odier represents an important milestone in broadening our alternatives and uncorrelated solutions platform by establishing complementary capabilities in the U.K. equity long/short space,” said Jean-Pascal Porcherot, head of the 1798 hedge fund strategies unit at Lombard Odier IM, in the news release. “The team comes to us with a proven investment process, strong track record and extensive network, which will underpin growth in existing client relationships and access to new clients.”
“As our business model is increasingly focused on more liquid and scalable strategies, we agreed with Volantis that moving to Lombard Odier IM would be in the best interest of investors,” said Paul Graham, CEO of AlphaGen Capital, in the same release. “The team will continue to manage their funds in the same manner and style that has brought them great success since inception over 10 years ago. We retain a good working relationship with the team, not least as they will continue to manage our long-only fund on a delegated basis, and wish them all the best.”
The spokeswoman, who said terms of the deal had not been disclosed, said Lombard Odier’s alternatives assets under management currently total $4.2 billion.