RAB Capital has taken on the entire staff of European
long/short equity boutique Park Place Capital, as well as the
firm’s flagship hedge fund. The move, which did
not involve a formal acquisition, provides the $1 billion
London firm with a new team for its existing European
long/short equity fund, as well as a presence in New York.
"It’s not a corporate acquisition,
it’s a lift-out," said Steve Solmonson, who was
president of Park Place and will continue in a business
development role, primarily from the New York satellite office
that belonged to his boutique. He will work to...