Odey Asset Management is planning to restructure one of its oldest funds as part of wider efforts to deal with the fallout from the ouster of founder Crispin Odey following allegations of serial sexual misconduct, according to a report by The Financial Times.
Odey Asset Management is planning to restructure one of its oldest funds as part of wider efforts to deal with the fallout from the ouster of founder Crispin Odey following allegations of serial sexual misconduct, according to a report by The Financial Times.
The London-based hedge fund firm has reportedly sent a letter to investors asking them to back a plan to shift assets from the Cayman Islands-based OEI Mac fund to a new investment vehicle which would then be rehoused with a rival firm.
As part of the restructuring plan, Odey AM portfolio manager Freddie Neave, who took over managing OEI Mac three weeks ago following Odey’s departure, would leave the firm to run the new fund.
Odey AM also announced on Friday that star fund manager James Hanbury is in “advanced talks” to move his portfolio of funds to boutique investment firm Lancaster Investment Management.
