|Julian Barnett, former portfolio manager at fund manager Polar Capital, launched the flagship hedge fund of his startup venture, Ridley Park Capital, last month. According to the Financial Times, Mr. Barnett raised almost $200 million for the new fund manager, although some sources claim Mr. Barnett had originally aimed for figures as high as $500 million.|
Ridley Park’s supposed difficulty fundraising belies Mr. Barnett’s successful record at Polar Capital, which he joined in 2002. He ran the Polar Paragon hedge fund, which was Polar Capital’s largest fund at the time with $875 million assets under management, from 2004 until his departure last year. In Mr. Barnett’s five years managing Paragon, the fund averaged annual returns of 28%.