The offshore fund is set for a June launch and will invest in the futures and derivatives sector.
Eclectica chief executive officer Simon Batten says more details will be revealed closer to launch but the long-only fund will have a 10 per cent performance fee and will be dollar-based with euro and sterling share classes.
Baardsen is best known for his seven-year stint in the English Premier League, notably at Tottenham. He also played at international level for Norway on four occasions. He joined Eclectica in 2005 from Voltrex where he was a hedge fund analyst.
Eclectica was set up by Batten and Hugh Hendry in 2005 and currently runs four funds including another agricul- ture fund run by George Lee and a hedge fund which Hendry took from former firm Odey Asset Management in July 2005 for an undisclosed fee. The firm has £488m in assets under management.
Batten says: “Espen has worked on the hedge fund with Hugh since he joined on a day-to-day basis for the past two years and we felt this fund was a natural extension.”