The long, slow demise of Edoma Partners – the London-based event-driven hedge fund set up two years ago by former Goldman Sachs Principal Strategies head Pierre-Henri Flamand – has entered its final phase after the firm confirmed widespread industry speculation that it is to shut down.
Having launched amid much fanfare in November 2010, taking in $2 billion of investor capital in one of the most hotly-backed European-based hedge fund launches of recent years, Edoma’s progress virtually since the start had been disappointing – with the fund losing around 7% since inception and down by around 5% this year in a period when many other event-driven managers have made money.
A recent rationalisation exercise that saw the departure of some former front-line investment team members including former Citadel man Oliver Haslam and ex-Cork Street co-founder Caspar Lund (formerly of Goldman and Avenue) had indicated that Flamand and his partners might be preparing...