The founders of Partners are hoping to have a younger set of senior executives take over the London-based hedge fund manager.
Financial Times reported that Lansdowne co-founder Steven Heinz, who is also the head of the firm’s European strategy fund, is stepping back from his responsibilities to let Stuart Roden and Peter Davies lead the company under a new UK LLP structure. Roden and Davies are both joint managers of Lansdowne’s $13 billion flagship Developed Markets fund.
Roden and Davies joined Lansdowne together from Mercury Asset Management in 2001 after it was purchased by Merrill Lynch, and have since jointly managed the hedge fund’s Developed Markets offering.
Heinz will remain on the boards of all of Lansdowne’s funds, and will continue to oversee the company’s information technology development. He will be based in Austria.
Launched in 1998, Lansdowne manages approximately $12.4 billion in assets.