RAB blazes a cautionary trail (Magazine Version)
July 01, 2011
It was a dizzying riseand it has been an equally dizzying fallfor RAB Capital, the London-based and -listed hedge fund group.
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...
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