The new boutique is to be called Ardevora Asset Management and will focus on long/short UK and global portfolios with absolute return targets.
According to reports, Lang and Pattisson will also hire two fund managers to run money alongside them.
The pair left Liontrust in January 2009 having been responsible for the majority of the firm’s assets under management. Their departures resulted in steep outflows from the firm as well a fall in the share price.
Liontrust appointed Gary West, James Inglis-Jones, Anthony Cross and Julian Fosh to assume management of three funds run by the pair.