Former Gartmore star manager Guillaume Rambourg is poised to launch his own hedge fund venture in Paris.
According to reports, Rambourg is expected to raise up to £650m through Verrazzano Capital, which will be launched through French regulator Autorité des Marchés Financiers.
Rambourg is working with four other partners to launch the new firm. The head of Goldman Sachs’ Delta One trading division Karim Moussalem; the founder of Lyxor Asset Management, Murielle Maman; UBS hedge fund division senior investment manager, Tim Williams; and former Gartmore senior analyst Tomas Pinto. The firm has recruited 10 other employees for trading purposes.
Alongside Roger Guy, Rambourg was a leading member of Gartmore’s fund management business, managing long-only and hedge fund assets. He was suspended in March 2010 after an alleged breach of trading rules.
Rambourg faced an internal investigation by the asset manager in April 2010 over the allegations that he had breached internal controls by letting favoured brokers execute his trades. The FSA then began a full investigation in June, a move which prompted Rambourg to resign from the asset manager in July 2010 to clear his name.
Rambourg was cleared of the charges in March 2011. Guy, who looked after about 35 per cent of Gartmore’s asset under management, left the firm late last year.
Gartmore has since been acquired by Henderson Global Investors.