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Pelham Capital Management selects the Isle of Man

Posted: 18 March 2008

The Isle of Man has announced the establishment of new hedge fund managers Pelham Capital Management on the island. Pelham Capital Management is splitting their operations between London and the Isle of Man.
Ross Turner and Hadyn Cunningham, directors of Pelham Capital Management, opened an office in London in July of this year, from which their new long/short European equity hedge fund will be launched to institutional investors on the 1st November.

Their aim is to raise US$500 million before closing to new investors.
Brian Donegan, Director of Foreign Direct Investment, Isle of Man Finance commented on the relocation: "We are delighted to welcome Pelham Capital to the Island. Having such a high calibre organisation on the Island is a testament to our new dynamic and comprehensive funds regime we now have available. It also proves the success of the model we developed as part of our recent strategic review of the sector.
There is tremendous scope for the international hedge fund manager community in terms of working with the Island.

We anticipate that our new funds initiative will accelerate growth of the number of hedge fund managers coming to the Island. We are confident of reaching our target of US$50 billion funds under management and US$100 billion of funds under administration by 2010."

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