Former Tiger international equity manager James Lyle and ex-Salomon man Martin Woodcock are expanding their US and UK-based firm after 12 years in the business
There are not many long/short equity funds that have been going for over a decade, run over $1 billion in assets and are still barely known in their home country. But Millgate Capital Inc, the global non-US value-based fund founded in December 1997 by British duo James Lyle and Martin Woodcock, is one.
Nor are there many hedge fund firms that are in expansion mode after the meltdown of 2008, when collapsing financial markets and heavy investor withdrawals triggered such turmoil throughout the industry. But Millgate, again, is one.
But, then again, there are not many long/short equity funds that coped quite as well as Millgate with the extreme conditions of last year - returning more than 18% against losses of 40-50%...