Talk:Lansdowne Partners

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Lansdowne Partners (Lansdowne) is a British investment management firm known for its investments in equities. Founded in 1998 by Paul Ruddock and Steven Heinz, the firm was an early entrant into the European hedge fund industry. The firm's name comes from Lansdowne Walk in Holland Park where it was established. Background Lansdowne's flagship hedge fund, the Lansdowne Developed Markets fund (formerly the Lansdowne UK Equity Fund), launched in 2001 and was managed by Peter Davies and Stuart Roden, who had previously worked at Mercury Asset Management. The fund enjoyed early success and reached a peak of $21 billion in assets under management (AUM) in 2015. In recent years, the firm has transitioned from its hedge fund strategies to long-only strategies, more in line with mainstream asset managers. In 2006, Lansdowne sold a 19% stake to Morgan Stanley Investment Management, at which point the firm had $12 billion in AUM across five different investment strategies. The firm navigated the 2007-2008 financial crisis well, with its UK Equity Fund profiting from short positions in the financial and housing sectors and subsequently catching the market rebound in 2009.

Leadership Changes and Strategic Shift

Lansdowne's flagship hedge fund, the Lansdowne Developed Markets fund (formerly the Lansdowne UK Equity Fund), launched in 2001 and was managed by Peter Davies and Stuart Roden, who had previously worked at Mercury Asset Management. The fund enjoyed early success and reached a peak of $21 billion in assets under management (AUM) in 2015. In recent years, the firm has transitioned from its hedge fund strategies to long-only strategies, more in line with mainstream asset managers. In 2006, Lansdowne sold a 19% stake to Morgan Stanley Investment Management, at which point the firm had $12 billion in AUM across five different investment strategies. The firm navigated the 2007-2008 financial crisis well, with its UK Equity Fund profiting from short positions in the financial and housing sectors and subsequently catching the market rebound in 2009. Leadership Changes and Strategic Shift In June 2013, co-founder Paul Ruddock retired, followed by Steven Heinz stepping back from day-to-day activities in 2014. However, they remained significant shareholders, which some viewed as an obstacle to the firm's expansion. In July 2020, Lansdowne announced the closure of the Developed Markets fund. Many of the fund's investors converted to the Lansdowne Developed Markets Long Only Fund. Recent Developments Under the leadership of Brian Heyworth, who was appointed Managing Partner in January 2024, Lansdowne has focused on strengthening its long-only offerings and expanding its client base. In 2022, the firm launched a UCITS version of its long-only European fund, making it accessible to European wealth managers. Lansdowne acquired Crux Asset Management, a long-only boutique firm, in August 2023. The acquisition aimed to bolster the firm's UCITS offerings and expand its reach in the UK and US wealth management markets. The firm has also launched a long-only retail version of its Developed Markets Fund in late 2023. As of June 2023, Lansdowne's AUM stood at $7 billion. The firm is backed by two major international investors, Morgan Stanley Investment Management and Stephens, which own 19% and 9% of the company, respectively.