The manager will use Oakley’s infrastructure for his new independent venture, and the tie-up with the firm is intended to allow him to get his own business underway, acting as a bridge between his current employment and future independent venture. Peter Duben, director at Oakley, said: “I am delighted Neil is joining and we fully support his desire to create his own transformational asset management business soon after joining Oakley Capital.”
“We will fully support the transition and in the meantime we will provide an environment in which Neil can have the autonomy and flexibility to best serve the interests of clients."
Oakley Capital specialises in private equity, corporate financing and alternative investments. Bill Mott, manager of the Psigma Income fund, told FE Trustnet recently that he thought Woodford would most likely run a fund focusing on start-ups, one of the areas in which private equity specialises.
However, there is no confirmation that Woodford will be managing a private equity fund.
The statement from Oakley says that Woodford will be running money for retail and institutional clients, but there are at this time no further details.
Oakley Capital is a Sloane Square-based firm whose private equity fund owns Time Out. It acquired advice firm Broadstone in 2010, which had £2bn in funds under management at the time.
Equity income managers and investors will be watching with great interest to see whether Woodford sets up his own equity income fund.
A number of rivals have seen large inflows as money has come out of the Invesco funds since Woodford announced he would be leaving.
Any equity income fund set up by Woodford could well see much of that money come his way.
