RWC merges Europe Absolute Alpha into Clapp's Pensato fund

Economies of scale

RWC Partners has merged the Europe Absolute Alpha fund into Graham Clapp's Pensato Europa Absolute Return fund.

The merger took place on 19 June to provide clients with "greater economies of scale". RWC acquired Pensato Capital, the investment firm set up by former Fidelity manager Graham Clapp, in September 2017. Clapp joined the firm with six other investment team members, and three Pensato funds were transferred to RWC, including a Cayman-domiciled European long/short strategy, the Pensato Europa Absolute Return fund - a UCITS version of the long/short strategy, and another European offering. Dan Mannix, CEO at RWC Partners, said: "We have taken the decision to merge the RWC Europe Absolu...