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Ex-Lehman investor in new investment boutique start-up

Ex-Lehman Brothers minority investor and long only fund manager Pier-Alberto Furno is launching a new London and Monaco based investment management company, to be called Ambix Capital.

Formerly known as Furno and Del Castaño Capital Partners, Ambix has approximately £200m in client assets under management.

Under the transaction, Furno has acquired full equity in the company through the purchase of 51 per cent of the ex-Lehman business and 25 per cent of shares owned by Mr Del Castano, a former business partner, both for an undisclosed amount.

The firm was first established as a joint venture with Lehman in 2004 but negotiations to reduce the investment bank’s stake were advanced at the time of its failure.

Ambix provides active equity investment services, targeting high net worth individuals and family offices. It starts trading today with four value based long-only equity funds and tailored managed accounts and intends to expand the business with further funds.

Ambix Capital managing partner Pier-Alberto Furno says: “I believe that the current market environment provides an excellent opportunity to develop an asset management boutique.

“The recent demise of Lehman Brothers is very unfortunate. However, it represents a tremendous entrepreneurial opportunity for me. One of the consequences of this financial crisis is that the high net worth clients have lost trust in large investment banks and they will turn to smaller and independent asset managers for a higher quality service.”


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