Launches & Closures

Ex-Liontrust duo plot new Ardevora

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Well-known former Liontrust equity managers Jeremy Lang and William Pattisson are planning a return to the hedge fund space with a new firm, Ardevora Asset Management, which should go live in the third quarter.

Lang and Pattisson were formerly at Liontrust, where they ran around £3 billion in long-only assets. They left in January 2009, prompting a sharp fall in the firm's assets under management.

The duo also ran a UK-focused market-neutral hedge fund at Liontrust from September 2002 until December 2004.

At Ardevora, which is likely to be based in Hampshire, the pair will run both long/short and long only