a dizzying riseand it has been an equally dizzying
fallfor RAB Capital, the London-based and -listed hedge
From humble beginnings as a small partnership founded in
1999 by Michael Alen-Buckley and Philip Richards, RAB blazed a
trail as a genuinely innovative player on the European hedge
fund scene. But after years of huge success, the business ran
into serious problems during and after the financial crisis in
2008, which led to a precipitous drop in assets under
managementfrom a peak of about $7 billion to only about
$1 billion now.
Most of the teams that joined in the wake of RABs
initial public offering have now departed. And in recent weeks,
what looks close to a coup de grâce was delivered with
news that Gavin Wilson, manager of the RAB Energy fund and
arguably the last top portfolio manager at...