TCI-Backed Hedge Fund Parvus Curbs UK Ties Amid Tax Turmoil

Activist hedge fund Parvus Asset Management has taken steps to distance itself from the UK, moving investment management activities to the low-tax territory of Jersey.

Parvus Asset Management registered a company last September in the British crown dependency with an office located in St. Helier, according to a registry filing. Earlier this year, one of the firm’s main UK entities terminated its authorization with Britain’s financial watchdog and transferred its investment management activity to the new Channel Islands outpost that Parvus’s founder, Edoardo Mercadante, owns, other filings show.