Swedish hedge fund partner quits while ‘on top
Torbjörn Olofsson, a portfolio manager at Swedish hedge fund Brummer, has decided to leave after 13 years at the firm.
Olofsson, one of Brummer’s seven partners, managed the fixed-income relative value boutique Nektar. Brummer is a multi-boutique firm that owns or co-owns seven funds. Brummer gives the fund managers the freedom to trade as they wish, and assists them with funding or seeding.
In May this year, Brummer closed Orvent Capital, a Singapore-based event-driven fund. In September, Brummer announced it was going to buy a stake in a management company called Carve – cross asset relative value equities – which has raised $500m with the aim of trading on ‘global financial imbalances’.
In a statement on Brummer’s website, Olofsson said: “I have always thought that you need to quit when you are on top. I, Nektar and all of Brummer & Partners can look back at a relatively long period that has been successful in terms of asset management performance. Now is therefore a good time to leave.”