Mikael Brantberg, a former managing director at Farallon Capital Management, has hired four senior executives as he prepares to start his own London-based hedge fund by the end of the year, according to a person with knowledge of the matter.

Brantberg has recruited Farallon colleague Joachim Bale, as well as Thomas Metscher, who is leaving Pamplona Capital Management to join the new fund to be called Lodbrok Capital, said the person, asking not to be identified because the information is private. Bale and Metscher are part of the investment team.

Brantberg has also hired Dennis McKenna, a former Guggenheim Partners executive, as a trader, and Dushy Selvaratnam, who left Eyck Capital Management earlier this year, as the firm’s chief operating officer, the person said.

Officials at Lodbrok Capital and Pamplona Capital declined to comment. Metscher, Bale, McKenna and Selvaratnam also wouldn’t comment.

Europe is seeing fewer hedge-fund startups as costs rise and investors are reluctant to allocate money because of high fees and poor performance. Some managers, with track records of making profits and working at well-known investment firms, are still pressing ahead with plans.  

Brantberg, who previously worked at Och-Ziff Capital Management Group, left $20 billion investment firm Farallon at the end of last year. He is seeking regulatory approval to start a long-short credit hedge fund investing in corporate bonds, leveraged loans and asset-backed securities across Europe.

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