Outflows put pressure on RAB to delist

TROUBLED hedge fund RAB Capital has said its days as a publicly quoted company could be numbered.

The firm, once a pin-up for London’s finance boom, said it had received fresh redemption requests and that one of its key fund managers is to leave the company.

Gavin Wilson, co-manager of RAB’s Energy and Octane funds, will leave the firm for personal reasons, meaning investors are likely to pull out of his $250m Energy fund.

RAB, led by Charles Kirwan-Taylor (pictured),?said the developments meant it would consider whether to delist from its place on the AIM market.

The beleaguered company had already said it stands to lose $400m (£245m) of cash from its $500m flagship Special Situations fund in October.

Investors had sought to withdraw the money at the height of the financial crisis, although agreed with management to lock the funds in until the end of 2011.

A series of ill-fated investments, including a stake in Northern Rock, made RAB one of the biggest hedge fund casualties of the crash.

Assets under management at the firm stood at $1.06bn at the end of last year, compared to $7bn at the end of 2007.