Mystery clouds Paris hedge fund launch
Hedge fund manager Guillame Rambourg is said to be launching a Paris-based hedge fund, but French regulatory body the AMF has not yet received an application for the fund’s approval.
Rambourg is believed to be setting up a Paris-based hedge fund named Verrazzano following an FSA investigation in 2010 that ended his career at UK based asset management group Gartmore.
However, a spokesperson for the AMF confirmed it has not received an application for approval from the fund and the company name Verrazzano is not recognized in its databases.
Yet according to a report in the Financial Times, the fund is near to launch with an estimated $1bn of assets.
Reportedly Rambourg has put together an impressive team of hedge fund experts including Karim Moussalem, founder of Lyxor Asset Management, Murielle Maman, senior investment officer at UBS’ hedge fund division and former Gartmore senior analyst Tomás Pintó.
The “return of the prodigal son” as French paper Les Echos describes Rambourg’s arrival in Paris may have been anticipated too soon. Alternatively the manager could have registered his fund elsewhere in Europe.