Stuart Davies, who previously managed Coronation International's Relative Value Fund, has joined Cardinal Asset Management in London.

Cardinal, the institutionally partnered alternative asset investment firm, has hired hedge funds veteran Davies to work with Paul Boulton and Christopher Peel in the development of the firms hedge fund of fund business.

Davies joins from Coronation International Ltd., the fund of hedge funds operation, where he managed the Coronation Relative Value Fund and co-managed a number of significant mandates.

He was also a member of the firm's three-man investment committee. Prior to Coronation, Davies was Head of the Investment Team and a member of the International Executive Committee of Nedcor Bank in London.

At Cardinal, Davies joins a premier line up of senior talent from the fund of hedge fund industry, working alongside the widely respected Paul Bolton and Christopher Peel.

All are veterans of the industry and have developed and managed hedge fund of funds within the industry's 'billion dollar club'.

Cardinal is developing a leading funds of hedge funds capability based upon the core sector specific expertise of its managers.