Hedge Fund LMR Hires Former Brevan Howard Manager Johan Tellvik

  • Tellvik joins in Hong Kong to run a global equity pool
  • He will focus on equity capital markets deals such as IPOs

LMR Partners, a London-based hedge-fund firm with $2 billion of assets, hired Johan Tellvik as a manager in Hong Kong to focus on investing in initial public offerings and secondary placements, said an executive.

Tellvik will run a pool of investments betting on rising and falling stocks globally with a focus on equity capital-markets events, Shane Cullinane, LMR’s London-based chief operating officer, said in an e-mailed response to questions. Tellvik, who was previously with Brevan Howard Capital Management, declined to comment in an e-mail.

A rising number of Asia-based managers are investing worldwide, for either local hedge funds or those based in the U.S. and Europe. Myriad Asset Management, Tybourne Capital Management (HK) and Asia Research & Capital Management, operating out of Hong Kong and led by former Asian heads of global hedge funds, invest significant portions of their assets outside the region. Hong Kong-based Amit Rajpal has been overseeing funds that trade financial stocks globally for London-headquartered Marshall Wace since 2008.

Awash with capital as large institutions gravitated toward the industry’s largest firms after the 2008 global financial crisis, Brevan Howard and peers such as BlueCrest Capital Management diversified beyond their core business of trading interest-rate and currency instruments by expanding into stocks.

Expansion Shelved

Tellvik worked with Brevan Howard when the firm set up an equity team, and ended his one-year stint in August after that expansion was shelved. He had managed a portion of the capital allocated by the Jersey-based hedge-fund firm to its global equity team and had a focus on capital-markets events such as share sales.

LMR, a global multistrategy hedge-fund firm, set up a Hong Kong office in 2012, according to regulatory data. Tellvik’s license with LMR became active on Jan. 4, according to information posted on the website of Hong Kong’s Securities and Futures Commission.

Former UBS AG traders Ben Levine and Stefan Renold and ex-Goldman Sachs Group Inc. trader Andrew Manuel started LMR in 2010, with backing from Donald Sussman’s Paloma Partners.

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