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French boutique bolsters long/short equity outperformer’s team

French boutique bolsters long/short equity outperformer’s team

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.

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