New York-based hedge fund TPG-Axon Capital Management is preparing to shut down its London office after one of its partners made the decision to leave to start his own firm.
Financial News reported that London-based Svein Hogset, who joined TPG-Axon in 2010, is moving to Norway in 2014 for family reasons, where he plans to launch a long/short equity fund focusing on mid-cap European stocks. The departure is amicable.
One of the two other employees based in TPG-Axon’s London office is transferring to the firm’s Hong Kong’s office, while the other is leaving.
TPG-Axon manages approximately $3 billion in assets.