November 24, 2020

US hedgie Hudson Bay Capital is coming to London

US hedge fund Hudson Bay Capital is coming to London to expand its activity in Europe, City A.M. understands.

Hudson Bay, which has around $2.8bn (£2bn) in assets under management, has hired three veterans including Evan Pearce, Paul Godfrey and Paul Murrell to run the new outpost.

The move for the event-driven hedge fund, which bets on circumstances such as mergers and acquisitions and restructurings, has come to the UK at a time when shareholder activism is picking up across Europe.

According to data provider Preqin, more than 211 US-headquartered hedgies already have a post in the UK.

Some, such as Elliott, have been increasing their activities across the pond as high valuations have forced them to look for more attractive options elsewhere.

Pearce was formerly a global bond investor at Pictet Asset Management, and had formerly worked for Pine River Capital. Godfrey, meanwhile, has joined from Pine River.

Murrell, formerly of Pinyon Asset Management and Sandell Asset Management, will be a senior analyst.

Filings showed that Hudson Bay incorporated in the UK in January.

The firm was founded by Sander Gerber, and it holds stakes in companies such as Tripadvisor and Tiffany & Co.

Its UK office plans to hire more staff over the coming months.

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