RWC Partners has appointed Mike Corcell to launch a US long short equity fund.
The fund will build on the track record Corcell (pictured) built during his time at Threadneedle where he was responsible for launching and managing the Threadneedle American Crescendo fund.
The new fund complements RWC Partners' existing range of funds managed by Ajay Gambhir, John Innes, Miles Geldard and Carmel Peters.
It will be managed along the same lines as Corcell's previous fund at Threadneedle. It will focus on generating returns from both long and short positions in US equities.
Corcell has been managing money since 1996. He worked with the renowned manager Mike Karsch before joining Threadneedle in 2003 to launch the American Crescendo fund. Following a five year stint at Threadneedle he moved to work for Steve Cohen managing a significant book at SAC Investment Management.
The new fund is expected to launch in Q3 2009 and Corcell will continue to be based in London. He will be recruiting a full team to work with him from launch.
Peter Harrison, chief executive at RWC Partners, says: 'Mike stands out as one of the most talented portfolio managers in the US long short equity space and we are delighted he is joining RWC Partners. He generated great returns for his investors through his time at Threadneedle and is highly respected by his peers.
'Building on the range of absolute return funds we have at RWC Partners, Mike complements our existing range of exceptional managers. Mike had a variety of interesting opportunities to choose from but his desire to stay living and working in London brought him to RWC Partners where we found an immediate cultural fit. He reaches and exceeds the high bar we set for all our portfolio management teams and is an excellent complement to our existing business."