Ermitage rebrand after buyout

The new joint owners are Caledonia Investments, who have acquired 60% of the company, with the remaining 40% held by the management team and the new chairman, Paul Myners.

The company, which ranks as one of the oldest and largest offshore fund of hedge funds management groups in Europe, was first founded as Ermitage in Jersey in 1975 and began investing in hedge funds in 1984.

It now employs 33 staff in Jersey, with 12 staff in London and two based in New York, and also has operations in Luxembourg as well as Bermuda.