Absolute Capital Management, the hedge fund management firm based in a number of European capitals, says it has recruited an additional four...

Absolute Capital Management, the hedge fund management firm based in a number of European capitals, says it has recruited an additional four new members to its staff of 25 professionals.

“These new staff members will be announced by mid-May,” Florian Homm, the chief investment officer and founder of ACM, told WealthBriefing on the sidelines of a recent conference in London on hedge funds hosted by Tara Capital.

Mr Homm, considered by many as one of the founding fathers of the European hedge funds, said ACM has been very successful at attracting assets because of strong performance in its six long-short equity funds.

ACM’s oldest and biggest fund Absolute Return Europe has achieved a return of 96 per cent in four years, outperforming the CSFB-Tremont long/short equity sector index by 50 per cent.

ACM now manages around $1 billion in assets, nearly double the amount at the end of 2004.