Odey Asset Management's flagship European Inc hedge fund is to be relaunched at Bainbridge Partners with manager Freddie Neave joining the firm too, after talks over a transfer to Landseer Asset Management collapsed, according to a report by Bloomberg.

The report cites Bainbridge founder Antoine Haddad as confirming the switch, writing in an email that: “Bainbridge’s quantitative and systematic know-how should merge well with Freddie’s fundamental approach”.

According to an unnamed Bloomberg source with knowledge of the matter, the deal with Landseer collapsed because it could not be completed within the necessary timeframe.

London-based Bainbridge manages $1.3 billion across quantitative and fundamental strategies.