GLG has appointed a European fund manager Rory Powe as part of its plans to launch a new European long-only equity fund.
Powe has joined GLG from Powe Capital Management, the firm he founded in 2001. Prior to this, he also served as head of European equities at Invesco managing more than £9.5 billion in assets.
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Additionally, Powe will continue to manage his PCM Europe Fund, which was launched in 2009.
Under the deal, GLG will take over the management contract of this fund from Powe Capital Management.
Teun Johnston, co-CEO of GLG, said: "Rory has an outstanding track record of generating alpha in European equities, and he will be a great addition to our investment team as we continue to build out our long-only platform.
"Rory will manage assets with the same philosophy and methodology he did at PCM, but with the benefit of GLG’s resources, strength, infrastructure and talent," he added.
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