Rainer-Marc Frey is reported to be in the early stages of setting up a hedge fund and wealth management group, called Horizon 21. Thomas Nahm, a JPMorgan equity trader who left the firm earlier this year, will reportedly head Horizon's London office. Frey and Nahm could not be reached.
Frey is one of the most well-known players in the hedge fund community and that is likely to be a priceless commodity in his new venture, noted hedge fund mavens. One of his peers said, "You can raise money on his name alone."
Frey made his fortune in 2002 when he sold RMF, his fund of hedge funds firm, which he set up 1992, to the Man Group for a whopping USD833 million. Hedge fund players said the timing of the move symbolizes his business acumen. Man was aggressively pursuing a hedge fund expansion plan and willing to pay up. One trader observed Frey had a lackluster trading record and his success started when he moved into funds of funds.
Hedge fund professionals speculated the timing of the move was related to Frey's switch to a senior advisor from an executive role at Man Group. He is thought to be staying in that role until May.
Friends of Frey said he is the most ferociously competitive and competent of men. "Play any game and he will win," joked one hedge fund professional.
