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Investcorp-Tages is taking on the management of Engadine Partners’s flagship strategy to boost its long/short equity offering.
The strategy is led by Engadine founder Marcello Sallusti, formerly the deputy CIO at Egerton Capital, and CEO Lorenzo Colucci.
Investcorp-Tages became the investment manager of the Engadine Equity Fund, which will continue to be run by the same team, on September 8.
Investcorp-Tages operates across the industry via external hedge fund investments and seeding new businesses, but this new move is an extension of its burgeoning internal business.
It has signalled it is open to bringing on more existing teams to grow its internal business in the future.
“[We] have seen Marcello’s funds distinguish themselves among the peer group – so when the opportunity arose, we were very quick to join forces to support the team,” said Salvatore Cordaro, co-CEO of Investcorp-Tages.
“We are excited to join Investcorp-Tages and bring our proven investment strategy to complement the business’s existing strengths,” said Marcello Sallusti. “We are poised to explore unconventional positions when backed by conviction.”