RAB blazes a cautionary trail (Magazine Version)


nullIt was a dizzying rise—and it has been an equally dizzying fall—for 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 management—from a peak of about $7 billion to