Ex-Jabre Capital Manager Said to Start Hedge-Fund FirmWill Wainewright
Ziad Tabet, a former money manager at Philippe Jabre’s hedge fund, will start a firm in London next year, according to three people with knowledge of his plans.
Amakor Capital Management LLP will deploy an event-driven strategy, said the people, who asked not to be identified because Tabet’s plans are private. Tabet, who worked for Jabre Capital Partners SA since 2007, registered the name with Companies House in the U.K. in late August, and plans to start the firm in the first quarter.
Tabet, 43, has hired Sean Burnard, the former chief operating officer and chief financial officer of Falcon Money Management LLP, a London-based asset-management firm, according to two of the people. Goldman Sachs Group Inc. and UBS AG were hired as prime brokers, the people said. Tabet and Jabre declined to comment.
Investors allocated more money to event-driven funds, which typically try to profit by trading on corporate events such as takeovers, than any other strategy in the third quarter, according to Hedge Fund Research Inc. data. Bloomberg’s Global Aggregate Hedge Fund Index, which tracks more than 2,400 firms globally, has risen about 2.3 percent this year. Some institutional investors say there is a lack of event-driven managers trading European opportunities.
“In Europe, there is a lack of depth of field in event-driven and equity long-short so we are always on the margin keeping our eyes open,” Anthony Lawler, head of portfolio management for a unit of GAM Holding AG that invests in hedge funds, said in an Oct. 20 interview.
Several new European hedge fund firms with an event-driven strategy have attracted more than $50 million from investors. Fredrik Juntti has about $250 million for London-based Abberton Capital LLP, which he’s planning to start this year. RS Platou Asset Management LLP, run by Elvis Pellumbi and Alessandro Esposito, is starting an event-driven hedge fund in November.
Tabet co-managed the Jabcap Event Driven Fund Ltd. from November 2010 to June 2014. Before joining Jabre in 2007, he worked for TPG Capital Management LP and Tribeca Global Management Europe Ltd., according to his LinkedIn page.