LONDON (Reuters) - Former Millennium Capital Partners and Brevan Howard Asset Management trader Arnaud Langlois is preparing to launch equities hedge fund Terreneuve Capital, two sources familiar with the matter told Reuters.
Langlois plans to launch Terreneuve - which will use a so-called 'long-short' strategy, betting on rising and falling share prices - with between $200 million and $250 million, the sources said.
Langlois, who declined to comment on his plans, registered Terreneuve at Britain's Companies House corporate registry on June 27.
Investor demand for long-short funds such as Terreneuve is currently higher than for any other strategy, a recent survey from Credit Suisse showed.
Fifty-nine percent of 200 investors surveyed rated long-short equities funds as the most interesting for the next six months and favoured them across Europe, Asia and North America, it showed.
Long-short funds have made gains of 6.1 percent in the first six months of the year compared with the average hedge fund, which made 3.6 percent over the same period, according to data from industry tracker Hedge Fund Research.
Langlois most recently worked at Millennium Capital as an equities portfolio manager between November 2013 and June 2017, filings with Britain's Financial Conduct Authority show.
He worked at Brevan Howard Asset Management between June 2008 and February 2010 and at multi-strategy hedge fund UBS O'Connor between September 2010 and April 2013, the filings show.
Reporting by Maiya Keidan; Editing by Simon Jessop and Mark Potter