Launches & Closures

Juchault and Obert re-emerge with Puzzle


Jean-Louis Juchault
When Jean-Louis Juchault and David Obert sold their 22% stake in Systeia Capital Management at the start of 2008, many expected the dynamic duo to resurface shortly, but due to market events, Puzzle Capital, a fund of funds with a one-year track record, has only come to light now.

The sale of the $1.5 billion business they set up in 2001 to the parent Crédit Agricole was perfectly timed given the sequence of events that hit the financial markets in the post Lehman era.

For Juchault, more than two years later, the world