Two former Gartmore portfolio managers, Roger Guy and Guillaume Rambourg, are reportedly set to launch their own hedge fund this year, Financial News reported.
The pair, who were superstars at Gartmore and whose exits resulted in billions of dollars worth of withdrawals and the eventual sale of the firm to Henderson, “are expected to attract a lot of investor interest.”
London, Paris or Geneva are said to be possibilities for the firm’s new headquarters.
Rambourg left London-based Gartmore in July of 2010 after an “excessive” FSA probe into his activities — an investigation that will not result in any disciplinary action by the regulator, he found out last week. He had been with the firm 14 years.
Roger Guy — furious with Gartmore over its suspension of Rambourg — announced his departure last November (Gartmore’s shares plummeted and in less than one year the fund devolved from one of the biggest in the world to having Goldman Sachs negotiate an emergency sale). He’d been with Gartmore since ’93, and his exit was described as a nightmare for the asset manager.
They were “consistently responsible for generating as much as 40% of the group’s total revenues… [and] won Eurohedge’s European fund of the year, one of the industry’s most prestigious awards, for generating 42% returns for one of their AlphaGen hedge funds,” the Telegraph reported.
Now, it looks like other investors are set to benefit from their rainmaking.
“They both have excellent track records and it will be worth seeing how they go,” one of the pair’s former investors said. “It would be interesting to see what they did if they came back.” Others who have previously handed their money over to Guy and Rambourg voiced the same opinion to the FT.
Guy has three children, is a graduate of Sussex University, and a huge fan of Arsenal Football Club, according to the Times. Rambourg graduated from one of France’s top business schools, ESSEC, with a major in finance.