People Moves

StormHarbour Acquires London-Based Alternatives Firm

Wendy Spires Group Deputy Editor London 19 November 2010

StormHarbour Acquires London-Based Alternatives Firm

StormHarbour Partners, a global markets and financial advisory firm, is to acquire Fortrinn Partners, a London-based alternative asset management business which specialises in volatility trading strategies. The terms of the acquisition were not disclosed.

Once the deal, which is subject to the approval of the UK regulator, has gone through, Fortrinn Partners will be renamed StormHarbour Alternative Investments.

Fortrinn was founded last year by Keith DeCarlucci, the former principal of MKM Longboat, and Antonis Giannopoulos. Replacing DeCarlucci as chief executive of the firm will be Thierry Sciard, a managing principal of StormHarbour.

Once the transaction has closed DeCarlucci will join the executive committee of SHAI, which will be led by Scaird and Nicolas Andine, a principal of StormHarbour who has been appointed as chief investment officer of SHAI. DeCarlucci will also continue to manage the Fortrinn Convexity Fund along with Giannopoulos.

“There are many opportunities in the market for volatility trading strategies and we firmly believe that our ability to capitalise on these opportunities will be enhanced by StormHarbour’s support and resources,” DeCarlucci said in a statement.

StormHarbour was itself founded just last year by former Citigroup senior executives Antonio Cacorino and Fredrick Chapey. The firm now has a staff of 170 based across offices in New York, London, Geneva, Hong Kong and Singapore.

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