Billion-dollar hedge fund team leaves Henderson for Lombard Odier

Henderson’s eight-person Volantis team will switch to Lombard Odier Investment Managers, according to a statement by the two companies on November 2.

The Volantis team forms part of Henderson’s $ 15 billion AlphaGen Capital division, which specialises in alternative investment strategies. The team is expected to complete its move to Lombard Odier during the first quarter of 2017, according to the statement.

Paul Graham, chief executive officer of AlphaGen Capital, said in the statement: “As our business model is increasingly focused on more liquid and scalable strategies, we agreed with Volantis that moving to Lombard Odier IM would be in the best interest of investors.

“The team will continue to manage their funds in the same manner and style that has brought them great success since inception over 10 years ago.”

The move comes almost a month to the day after Henderson announced its intention to merge with the US investment manager Janus Capital. The deal will create an company with around $ 320 billion in assets under management.

A spokesman for Henderson said the decision to part company with the Volantis fund managers was not related to the merger. However, a person familiar with the matter said the deal, though agreed prior to the merger, would likely have been accelerated because of the Janus announcement.

Lombard Odier manages 223 billion Swiss francs (€207 billion) across its asset and wealth management businesses. Jean-Pascal Porcherot, head of the 1798 hedge fund strategies platform at Lombard Odier Investment Managers, said that the appointment of the Volantis team represented ” an important milestone” in broadening the group’s alternatives capabilities in the UK.

Adam McConkey, head of the Volantis team, described the move as “a great fit”.

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