Former Verrazzano Capital’s portfolio manager Youssef Benhaddouch has been awarded an asset management license by French financial market regulator AMF for its new venture Revel Asset Management, InvestmentEurope can reveal.
The license was delivered to Revel Asset Management on 17 July 2018 by AMF. It is understood that Hervé Ragagnon, formerly portfolio manager at Exane and Trusteam Finance, has joined Benhaddouch’s new boutique, which will be located 72 rue Pierre Charon in the eighth district of Paris.
At hedge fund Verrazzano Capital, Benhaddouch was running the Verrazzano Concentrated Equity Europe fund, a pan-European equity long only strategy with an unconstrained pragmatic stock picking approach based on fundamental financial analysis and a concentrated approach with thematic, sector, country diversification.
Benhaddouch’s fund has been the only survivor to the conversion of Verrazzano Capital into a family office at the start of the year after CIO Guillaume Rambourg decided to retire.
The remainder of Verrazzano’s fund range had been closed and money returned to investors.