Investment manager Lansdowne Partners completed its acquisition of CRUX Asset Management, a UK-based equity investment boutique, on August 14.
Daniel Avigad, portfolio manager of Lansdowne’s European long-only strategy, will assume responsibility for the TM CRUX European Special Situations Fund and the CRUX (Lux) European Special Situations Fund from September 1, following the retirement of CRUX founder Richard Pease at the end of August.
CRUX’s other funds will continue to be managed by their existing fund managers, including the UK equity funds run by Richard Penny and the Asian equity funds managed by Ewan Markson-Brown.
Brian Heyworth, co-managing partner at Lansdowne, said: “The acquisition of CRUX has strengthened Lansdowne’s Ucits offering and reflects the cultural fit between our firms and the close alignment of our investment approaches.”
Karen Zachary, CEO of CRUX, added: “We have found the ideal successor for Richard Pease’s European equity funds and believe our investors will benefit from Daniel’s investment expertise, which until last year was only available to institutional clients.”
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