Crispin Odey has reopened his European hedge fund following a soft closure in November 2022, which was attributed to difficult trading conditions.

Odey European, the company's flagship hedge fund, will now start to accept new investors again, according to an investor letter reported by Financial News.

The OEI Mac and Odey Swan funds have also reopened to investors, alongside the flagship strategy, with Odey AM chief executive Peter Martin explaining the managers were "satisfied that there is sufficient capacity within the strategy for greater assets, and an improved opportunity set". 

As of November 2022, the three funds had combined assets of $1bn.

Odey Asset Management declined to comment.

Odey closes $1bn of funds to new money

At the time, the asset manager said it took the decision to soft close the three funds to "protect the interest of our existing investors" and to provide "the best opportunities for fund performance in the future".

The company added it wanted to make sure client assets remained within a level "that does not compromise our ability to maintain the strategy's risk/reward profile, and consequently performance".