Fredrik Ervanius, formerly a portfolio manager at fund management firm Orn Capital in London, is to launch a $400m (€312m) long/short European equity hedge fund next month.

The fund has raised about $50m in seed capital prior to the May launch and will have a maximum capacity of $400m, said Shabir Chowdhary, head of sales at Schneider Capital, which will provide office space for Ervanius in London and back office and regulatory support.