AlphaGen acquisition triggers revival of Henderson’s wider hedge fund business
March 26, 2012
Twelve months after absorbing Gartmore, the combined Henderson/AlphaGen hedge fund group is flourishing in terms of manager morale, investor inflows and new growth opportunities
A year can be a long time in the fund management business. Twelve months ago, the staff of Gartmore Investment Management were still reeling after a calamitous series of events that saw the firm lurch from a public flotation by its US private equity owners at the end of 2010 to an emergency fire-sale to former arch-rival Henderson Global Investors one year later.
In the course of that tumultuous period, started by an apparently needless internal inquiry into trade-directing activities by star European equity manager Guillaume Rambourg (in which Rambourg was completely exonerated), things seemed to fall apart for Gartmore.
Rambourg quit the firm – followed shortly afterwards by his long-term colleague and co-manager Roger Guy. The share price collapsed as assets in the flagship European equity long/short funds haemorrhaged and profit projections tumbled.
And a group that had been feted – and envied by rivals –...
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