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$10 billion U.K. hedge fund heads Stateside

October 10, 2013: 4:52 PM ET

$10 billion London hedge fund opens a New York storefront.

FORTUNE -- Odey Asset Management, a $10 billion hedge fund based in London, is opening a U.S. office in New York, Fortune has learned.

It will be led by new head of U.S. sales Tom Trowbridge, who previously was head of marketing for Lombard Odier's 1798 Investment Strategies Fund. In an email to friends and colleagues, Trowbridge wrote of Odey:

Besides the flagship global equity long/short hedge fund which has compounded at 14% over the past 21 years, the firm also offers several funds in European equity and global macro strategies. I am opening the US office in New York which is where I will be based.

Odey Asset Management was founded in 1992 by former Barings Bank trader Crispin Odey, who came to broader prominence in 2008 for being one of few fund managers to accurately predict the credit crunch. In a recent WSJ interview, he said the following about the global economic recovery:

"We are pretty optimistic. Four percent growth rates for next year are still achievable in the States. The danger is that the stock market has risen 40% over the last year. There is a big element of price-earnings expansion that has come about, which does not go and sit happily with rising long bond rates."

Trowbridge has not replied to a request for comment.

Odey Asset Management's largest holdings include Delta Airlines (DAL), Signet Jewelers (SIG) and Wells Fargo (WFC).

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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