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.