Ilex Capital Partners, the equity long-short multi-manager launched in London by former Citadel traders Jonas Diedrich and Dave Sutton, has grown to around $7bn in assets following a fresh capital raise and continued performance gains, according to a report by Bloomberg.
The firm attracted approximately $2bn in new allocations between June and August, according to people familiar with the matter, while its flagship fund returned 9.1% year-to-date through November. Ilex has periodically reopened to new capital as it builds out its investment platform, which now comprises 42 employees across five sector-focused trading teams.
Diedrich oversees the consumer book, with Rob Sheward leading financials and Barry Zeitoune managing technology, media and telecoms. Two recent hires, Adrien Brus and Sebastian Yoshida, now run the healthcare and industrials books respectively. The latest capital intake marks Ilex’s third raise since its 2023 launch, following a $1.5bn fundraising round last year.
The firm’s market-neutral, factor-constrained approach mirrors the strategy Diedrich ran at Citadel, generating a 17.5% return last year and 4.2% in 2023. Ilex declined to comment.
