UK equity manager Richard Penny to join Oberon Investments in fund transfer deal

From Lansdowne Partners

Veteran fund manager Richard Penny is set to move to Oberon Investments as part of the transfer of a trio of UK equity funds from Lansdowne Partners.

Penny and his investment team will join the boutique and continue to manage the TM CRUX UK Special Situations, TM CRUX UK Core and TM CRUX UK Smaller Companies funds. The strategies, which total $84m in assets under management, will be transferred to Oberon on 13 December and be rebranded to TM Oberon UK Core, TM Oberon UK Special Situations and TM Oberon UK Smaller Companies funds.  Lansdowne Partners completed its acquisition of CRUX Asset Management in August last year. The firm assumed full ownership of the UK-based equity investment boutique following the retirement of its founde...