Best equity long/short fund: Lansdowne Partners
Lansdowne Partners is one of Europe’s five largest hedge fund groups. Formed in 1998 by Paul Ruddock and Steven Heinz, the firm has been significantly increasing assets, particularly over the past three years. Ruddock had been the head of international business for Schroders, while Heinz managed equities for Harvard Management Company.
In addition to running the firm, Ruddock was recently appointed by the UK prime minister as chairman of the Victoria and Albert Museum, a UK national museum of art and design. His dedication to London goes further – Lansdowne owns a 2% stake in London football club Arsenal. But despite the high-profile position, and his ranking as a top-10 London earner, Ruddock likes to keep a low profile.
A multi-strategy fund, Lansdowne is best known for its long/short funds – the European fund managed by Heinz himself and the UK funds managed by Stuart Roden and Peter Davies. The firm manages more than $12 billion, and, at the end of 2006, it sold a 19% stake to Morgan Stanley Investment Management.