Former BlueCrest Capital Management money manager Oliver Dobbs will open a multi-strategy credit hedge fund.
Credere was registered by Dobbs in the U.K. last month, but may not begin trading this year, Bloomberg reports. Dobbs was a convertible bond trader at BlueCrest before leaving in October. He also worked for CQS between 2008 and 2013 as CIO of portfolio management
Other managers are looking to Britain to open new hedge funds. Chris Rokos, co-founder of Brevan Howard Asset Management, is opening Rokos Capital Management. Daniel Martin, of Pelham Capital, is launching Rye Bay Capital. But opening a new hedge fund isn’t easy. Last year 1,040 firms were started globally, the lowest level since 2010. This year may see more growth as 264 new funds started in the first quarter.
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