Martin Currie acquires European long/short equity fund

Martin Currie has acquired the $140m Sofaer Capital European hedge fund along with its management team.

The fund, which currently makes up half of Sofaer's assets under management, will transfer across to Martin Currie from 1 July. Managers Michael Browne and Steve Frost will join the Edinburgh-based firm at the same time, while investment analyst Charlotte Dagg will join later in the year. Browne and Frost have worked on European equities together for over 20 years and have co-managed the Sofaer Capital European Hedge Fund since 2001. Sofaer Global Research chief executive David Helm says the firm has been considering scaling down its UK operations for some time. It will maintai...