Jabre Capital Partner's new JabCap Mangousta will be an "an open-ended long-short fund with a bias to mid-cap European companies" according to the Financial Times. The planned launch date is mid-December, with funds approaching three quarters of a billion dollars.

Managing the new Jabre venture will be the well pedigreed Renaud Saleur who Jabre recruited away from their mutual former firm, GLG Partners, one of Europe's largest hedge funds. At GLG Saleur Had managed a fund that shares the name Mangousta. Cheeky, no...?

Philipe Jabre, who was a star trader for GLG Partners, is perhaps most famous for receiving (and challenging) a record fine from the FSA in connection with a questionable 2003 bank bond deal.

It is safe to say, I think, that Jabre has landed on his feet. More on his road back from scandal via the tags below.

-- MDT

Labels: GLG, JabCap, Jabre Capital Partners, Jabre Financial Service, Philippe Jabre, Renaud Saleur