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12 Feb, 2008


Published: 07:47 Tuesday 12 February 2008
By: Matthew Goodburn, Investment Correspondent

Former F&C UK equities duo Makis Kaketsis and Luke Newman have resurfaced at specialist global special situations hedge fund boutique Altima Partners.

The pair resigned from F&C Asset Management on 8 November 2007 and have subsequently been on gardening leave but are now understood to have linked up with former DWS colleague and Altima co founder Mark Donegan.

According to Citywire sources they are launching a Pan European special situations fund for the Pall Mall-based boutique which will run as an absolute returns vehicle.

The pair are understood to have now started at Altima where they are awaiting FSA approval to launch the fund.

Citywire understands the fund will be dollar denominated and will have a relatively high minimum investment level.

Newman and Kaketsis joined F&C from DWS in late 2005 along with Peter Lees and Phil Doel.

The pair were seen as rising stars at the group, with Newman taking over the reins of the F&C Special Situations fund on 31 December 2005 and Kaketsis launching the UK Dynamic fund on the same date.

Both funds were top decile in the UK All Companies sector over their respective tenures, with Newman returning 33.01% between 31 December 2005 and 8 November 2007 while Kaketsis returned 34.89% over the same period.

Over the same time horizon, the UK All Companies sector returned 21.37% and the FTSE All Share posted 22.3%.

The pair also launched one of the first UK equities 130/30 products UK Enhanced Alpha in August 2007.

Altima Partners currently has around $4 billion in assets under management.

Donegan left DWS in 2004 to set up Altima alongside Mark Foster-Brown and runs a global special situations fund at the group.

Neither Kaketsis, Newman or Altima were available for comment.

       
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