What is Odey Asset Management, one of Europe’s richest and best-known hedge fund firms, investing in?
U.K. news outlet The Telegraph reported that London-based Odey has bought a $116 million stake in Circassia Pharmaceuticals, a that specializes in treating allergies. The hedge fund is now a 12% shareholder in Circassia.
Hedge fund firms, such as Lansdowne Partners, Invesco Asset Management, are also investors in Circassia.
Odey, founded by Crispin Odey, manages about $12.2 billion in assets.