Hedge fund giant to be broken up after sexual harassment claims against its founder
Hedge fund giant Odey Asset Management will be broken up, days after allegations of sexual harassment against its founder emerged."Acting in the best interest of our investors and our staff has continued to be our primary concern over the past few days," said OAM.He was ousted from the fund management business at the weekend.that multiple women had accused Mr Odey of misconduct over 25 years, with the latest alleged incident taking place in December 2021.
On Thursday, OAM said it was now "in advanced discussions for rehousing funds and transferring certain fund management activities and individuals to other asset managers".Another $600m of investor money is still held in funds formerly run by Mr Odey. It is unclear what will happen to those investments. Mr Odey also has around $600m of his own money invested in the firm.
The financier is well known in the City for having made large sums of money betting against the UK pound and British government bonds in recent years.
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