Albert Bridge Capital's Dickson Included in The Hedge Fund Journal Tomorrow's Titans 2016

Dickson, formerly of Fidelity and Och-Ziff, spun his Alpha Europe strategy off the Perella Weinberg Partners (PWP) platform, launching the strategy independently in the spring of 2016 with assets under management of $125 million.

Former PWP colleagues have re-joined him, including Doriana Pavlicu, Charles Hwang, and Jeremie Dadoun, filling out a team of nine backed by a large US university endowment. Dickson’s formative years working and studying under behavioural economist Richard Thaler at the University of Chicago, underpin the behavioural finance elements of the investment process.

The Albert Bridge team follows a bottom-up, deep-dive fundamental equity strategy with the goal of generating differentiated, idiosyncratic returns, capitalising on superior, objective analysis; while taking advantage of biases of the consensus investor. He constructs the portfolio in a reasonably concentrated manner, with the top ten positions representing 65% of assets under management since the strategy’s inception in April of 2008.

Before spinning off the PWP platform in December of 2014, cumulative net returns in the Alpha Europe Long Only Fund had reached 135.9%, representing annual returns of 13.5%.

 
 

Albert Bridge Hires Former BAML’s Kenny for Marketing

Andrew Dickson’s Albert Bridge Capital, which started trading in London this year, has hired Mairead Kenny, Bank of America Merrill Lynch’s head of capital introductions, to lead fundraising.

Kenny has joined as director of marketing and investor relations, the money manager said in a June 7 statement. Kenny led the U.S bank’s unit helping European hedge funds raise money for more than four years.

Dickson, former money manager with Perella Weinberg Partners, started trading the AB Alpha Europe Long Only Fund in April.  The fund had support from a U.S. university endowment and raised $150 million.  It has a capacity of $750million, Dickson said in April.

Kenny “will bring enhanced strategic leadership to the non-investment side of Albert Bridge and make a significant contribution to the service and transparency we can provide to our investors and to the growth of our business”, Dickson said.  The fund previously hired Stuart Bohart, who has held senior positions at Fortress Investment Group and Morgan Stanley Investment Management, as a non-executive partner and member of the firm’s advisory board. 

Albert Bridge hires BAML cap intro head

Mairead Kenny joins as director of marketing and investor relations

London-based hedge fund Albert Bridge has hired Bank of America Merrill Lynch head of cap intro Mairead Kenny as director of marketing and investor relations.  Kenny had been head of European capital introductions with Baml for four years and her hire follows the appointment of former Fortress Investment Group co-CIO Stuart Bohart to Albert Bridge’s advisory board. 

Albert Bridge, a Perella Weinberg spinout, launched in April and runs the Alpha Europe Long Only Fund, which focuses on European developed-market equities.  The Cayman-domiciled fund initially launched with $100m and the firm is looking to close at $750m.

“I am delighted that someone of Mairead’s calibre and energy has joined us in this new role,” said the firm’s founder Drew Dickson.  “She will bring enhanced strategic leadership to the non‐investment side of Albert Bridge and make a significant contribution to the service and transparency we can provide to our investors, and to the growth of our business.”

Dickson left his role as partner and portfolio manager with $8.6bn Perella in January and has previously held roles at Fidelity and Och-Ziff Capital Management having also founded his own hedge fund firm Dickson Capital, which he ran between 2008 and 2012. Dickson Capital was merged into a Perella fund in 2012 to form the Alpha Europe Fund, which closed down in 2014 after failing to reach the requisite AuM.

The firm recruited former Perella director Doriana Pavlicu, who was also part of Dickson Capital, as head of operations as well as ex-Perella analyst Charles Hwang.

 
 

Ex-Fortress and Morgan Stanley heavyweight joins hedge fund startup

Ex-Fortress and Morgan Stanley heavyweight joins hedge fund startup

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A former president at alternatives giant Fortress Investment Group and one-time head of Morgan Stanley's investment arm, has taken up an advisory role at a London-based hedge fund.

Stuart Bohart has joined Albert Bridge Capital as an advisor, according to the firm's website.

Bohart has held a number of roles in the investment industry, most recently serving as President of liquid markets and co-chief Investment officer of Partners Funds at Fortress, until his departure in the Summer of 2015.

Fortress is one of the largest alternative investment managers in the world, managing about $70.6 billion of assets for institutional and private investors across a range of strategies.

Prior to Fortress, Bohart was co-head of Morgan Stanley Investment Management, a job that gave him oversight of more than $400 billion in retail and institutional money, according to his profile on Albert Bridge's website.

Albert Bridge was set up by Andrew Dickson, a former partner at Perella Weinberg Partners - the firm received authorisation from the UK's Financial Conduct Authority in March 2015.

It employs a team of seven, including Dickson, as well as two advisors: Bohart and David Grant, a former analyst at Fidelity Investments.

According to a Reuters report in December, which cited people familiar with the matter, Albert Bridge launched with a $100 million fund that could eventually close at $750 million.

Bohart could not be reached for comment.

Ex-Perella Weinberg Manager Raises $150M for Startup

Andrew Dickson, a former money manager with Perella Weinberg Partners in London, has raised US$150 million for his new firm, Albert Bridge Capital.

His AB Alpha Europe Long Only Fund will focus on European developed-market equities and have a capacity of $750 million, Dickson said in an interview on Wednesday. He has backing from a U.S. university endowment fund, he said, declining to identify the institution.

Dickson’s previous firm, Dickson Capital Management, was acquired by Perella Weinberg in 2012. Since then he has run the New York-based firm's Alpha Europe unit. He previously worked for Och‐Ziff Capital Management Group.

Doriana Pavlicu, who previously worked at Perella Weinberg and Dickson Capital, is Albert Bridge's chief operating officer. The firm is currently hiring a head of investor relations. Albert Bridge employs seven people including Dickson.

The launch comes amid a slowdown in new hedge funds globally. Shutdowns outnumbered start-ups last year for the first time since 2009, according to data firm Hedge Fund Research, as the global industry contracted.

Former Perella Weinberg Partners Exec Dickson Launching New Hedge Fund

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Andrew Dickson, formerly a partner with Perella Weinberg Partners Capital Management, is prepping a new London-based hedge fund firm.

The new company, named Albert Bridge Capital, will launch in the first quarter of next year with an initial equity-focused fund of around $100 million, according to a Reuters article that cited six unidentified sources familiar with the matter. Albert Bridge has reportedly submitted the requisite paperwork to the U.K.’s FCA and has an eventual AUM target of $750 million.

The initial fund will focus primarily on 15-25 equity positions. Eventually, Albert Bridge plans to open a second fund that will be more of a long/short vehicle, according to Reuters. 

Dickson joined $8.5 billion alternative asset manager Perella Weinberg in 2004 after jobs at Fidelity and Och-Ziff Capital Management. He also founded equity hedge fund Dickson Capital Management, which eventually meshed with Perella Weinberg before it was shut down last year.

Joining him at the new venture is former Perella director Doriana Pavlicu, who will be head of operations at Albert Bridge, and ex-Perella analyst Charles Hwang.

Ex-Perella Weinberg partner launches Albert Bridge Capital

Andrew Dickson set to launch first long-only fund in first quarter of 2016.

Ex-Perella Weinberg Partners Capital Management partner Andrew Dickson is launching an equities hedge fund business in the first quarter of 2016 with an initial $100m, HFMWeek understands Albert Bridge Capital’s Alpha Europe Long Only fund will focus on European equities, holding between 15 and 25 stocks, and is targeting a $750m close. The firm is also considering the launch of a long/short fund.

The firm is understood to be expecting significant flows into the Cayman-domiciled fund from endowments and institutions.

Dickson left his role as partner and portfolio manager with $8.6bn Perella in January and has previously held roles at Fidelity and Och-Ziff Capital Management having also founded his own hedge fund firm Dickson Capital, which he ran between 2008 and 2012.

Dickson Capital was merged into a Perella fund in 2012 to form the Alpha Europe Fund, which closed down in 2014 after failing to reach the requisite AuM.

London-based Albert Bridge is awaiting FCA authorisation.

Dickson has recruited former Perella director Doriana Pavlicu, who was also part of Dickson Capital, as head of operations as well as ex-Perella analyst Charles Hwang.

In July Perella Weinberg money manager Daniel Arbess left the firm to focus on investing in private markets having managed Perella’s Xerion hedge funds, which closed in late 2014 after the main fund fell -7% in the first 10 months of the year.

Barrons - Focus on Funds, AM Funds Roundup

Third Avenue Management’s CEO David Barse has left the firm, according to anonymous sources. Gregory Zuckerman, Rob Copeland, Matt Wirz & Serena Ng, The Wall Street Journal.

Why ETF flows aren’t a good indicator of market sentiment. Chris Dietrich, Barron’s.

Third Point’s Daniel Loeb didn’t take the weekend off from putting pressure on Dow Chemical (DOW) and its proposed merger with DuPont (DD). Michael J. de la Merced, The New York Times.

Former Perella Weinberg Partners Capital Management partner Andrew Dickson is planning to launch what could be one of Europe’s biggest new hedge funds of the year. Maiya Keidan and Simon Jessop, Reuters.

The fall Citic Securities—once called the Goldman Sachs of China—may have started with a probe into shorting instruments it was marketing to hedge funds.  Bloomberg News.

Natural gas prices tumbled to their lowest levels since 2012 as unseasonably warm weather in much of the nation sent demand for heating oil to a seven-year low. Myra Saefong, MarketWatch.

A wave of investor withdrawals led Stone Lion Capital to suspend redemptions in its credit hedge funds. Rob Copeland, The Wall Street Journal.

Ex-Perella Weinberg partner to launch equity hedge fund

Former Perella Weinberg Partners Capital Management partner Andrew Dickson is preparing to launch an equities hedge fund firm called Albert Bridge Capital, six sources familiar with the matter said.

The firm is set to open an initial fund with $100 million in the first quarter of 2016, one source said, while a second added the size could be in the "low hundreds of millions". A third source said the fund would close at $750 million.

Reaching $100 million would put the fund among the biggest regional launches. Just 14 Europe-based hedge funds kicked off with that much in 2015, data from industry tracker Preqin showed.

The need to reach that figure has become more acute in recent years as a result of rising regulatory costs. Many funds also want to reach a size that makes them more attractive to institutional investors.

Dickson left his role as partner and portfolio manager at $8.6 billion investment manager Perella in January.

As well as previous stints at fund firm Fidelity and U.S. hedge fund Och-Ziff Capital Management, Dickson had also co-founded equity hedge fund Dickson Capital.

That firm's fund was eventually merged into Perella and renamed the Alpha Europe Fund, before it was shut at the end of 2014 after failing to reach "critical mass", despite positive performance, a fourth source, close to Perella, said.

The third source said Albert Bridge's first fund would buy just 15-25 stocks and be the firm's main focus for the next few years. A second fund that is able to bet on falling share prices may also be launched in the future, he added.

The firm had submitted its application for authorisation to the British regulator, but was not yet marketing to potential investors. However, the third source said he expected significant interest from U.S. endowments and institutions.

Joining Dickson in the start-up is ex-Perella director Doriana Pavlicu, who also worked alongside Dickson as head of operations at Dickson Capital Management, the role she will take at Albert Bridge, and ex-Perella analyst Charles Hwang.