12 Feb, 2008
Published: 07:47 Tuesday 12 February
By: Matthew Goodburn, Investment Correspondent
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
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
Donegan left DWS in 2004 to set up Altima alongside Mark
Foster-Brown and runs a global special situations fund at the
Neither Kaketsis, Newman or Altima were available for