Jupiter has hired US equity hedge fund veteran Darren Starr and plans to launch a Ucits-compliant strategy for him later this year.

Starr, who joins from Hong Kong long-short manager Segantii Capital, will work alongside Jupiter Absolute Return head of strategy James Clunie (pictured). 

Company head of alternative investments Magnus Spence said: Developing and expanding our liquid alternatives capabilities is a key strategic goal for Jupiter.

‘Darren’s appointment enables us to strengthen and broaden our presence in this sector. We believe there is significant client demand for strategies which are uncorrelated to the performance of the equity market given current valuation levels.’

Starr has more than a decade of experience, previously working at UBS, Caxton and SAC.

He added: ‘Jupiter has a growing reputation in the liquid alternatives space, and I am excited to be joining the company at this point in its journey.

I look forward to working alongside this talented team of investors and adding my own contribution to the success of the business.’

The house reported £1 billion in new client inflows last year, powered by its alternative and fixed income franchises, helping to lift total client assets 24.5% to £50 billion.