French firm Sycomore Asset Management has hired long/short equity specialist Benjamin Tolub to help strengthen the team under outperforming manager Gilles Sitbon.
The Paris-based group has appointed Tolub, who has seven years market experience, as a senior analyst.
He will work across long/short and event driven strategies in the group’s 13-strong investment team but primarily focus on the Sycomore L/S Opportunities fund.
Tolub joins from Millennium Partners, where he spent four years as a senior analyst covering European long/short strategies. He previously worked as an M&A analyst at private banking group Ohana & Co.
Sycomore said the appointment of Tolub reflects increased investor interest in long/short strategies and the growth of the Sycomore L/S Opportunities fund, which now has over €200 million in assets.
Speaking at the end of 2014, Sitbon said the most contrarian call in long/short equity investing at present would be to go long on European stocks.
The Sycomore L/S Opportunities fund has returned 33.1% over the three years to the end of December. This is while the average manager in the Alternative Ucits – Long/Short sector, returned 17% over the same timeframe.