Philip Hardy to join Four Capital following Polar exit

Philip Hardy is set to join Four Capital Partners in November following his departure from Polar Capital.

Polar Capital last week announced that it was set to shut its UK equity desk following Mr Hardy’s departure, resulting in an outflow of $293m (£183.2m) from the Polar Capital UK Absolute Return fund and a long-only mandate that he ran.

Mr Hardy is taking that long-only mandate over to Four Capital and the firm said it had no immediate plans to launch a new fund for him.

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At Four Capital, Mr Hardy will join a five-strong UK team that is led by his former colleagues at Schroders Tom Carroll and Chris Rodgers.

James Southern, sales director at Four, said: “Philip will be managing money for a segregated mandate that he has been running while at Polar. The client agreed to come over with him.

“He will be a separate team from the rest of our UK desk.

“Philip approached us and wanted to run the mandate and it was a good fit.”

Mr Southern added there were no plans for a pooled fund for Mr Hardy to run.