Gartmore has hired Simon Peters from the Government Investment Corporation of Singapore to manage AlphaGen Rhocas, a new hedge fund focusing on European financial services and due to launch on July 1.

Peters managed around $5bn (€4.2bn) of traditional, long-only funds focusing on European equities, European financials and global financials at the Government Investment Corporation of Singapore. He will manage Rhocas with Tom Hedges and Dae Levy.