A second senior portfolio manager has left the alternative solutions division of Frankfurt funds boutique Lupus Alpha in less than a month, as appetite for hedge fund strategies grows among German institutional investors.

Harald Bareit has quit Lupus Alpha and will join Kepler Equities, a pan-European equity broker owned by Icelandic bank Landsbanki, in January. He will run the firm's seven-strong asset management team in Frankfurt and report directly to René Seitz, managing director and European head of asset management.