F&C hires London & Cap's team

F&C has snapped up London & Capital's fixed income hedge fund team. The team has joined F&C Alternative Investments to launch a global diversified fixed income hedge fund, the F&C Tourmaline Fund. It will be launched in the first quarter of 2007. F&C said that the recruitment of three senior hedge fund managers and a quantitative analyst is evidence of its ambitions to develop its range of specialist products and target new business in higher margin areas as part of its three-year accelerated growth plan. Fernando Ribeiro, head of investments at F&C, said: "This is an important developmen...