Had this on the watch list too long and could kick my own ass if it was possible. I think this is just the type of play needed on these markets along with Value shares such as Churchill China that I recommended yesterday.

Heres just a brief background on the company.................

Hedge fund leads rush to float
by Louise Armitstead
RAB Capital is the first to plan a listing in London. Others are bound to follow

IN the spring of 1999 Philip Richards and Michael Alen-Buckley arrived almost empty-handed at their new office — a small room in 1 Adam Street, just off the Strand in central London.
The day — April Fools’ Day — seemed apt at the time. Richards and Alen-Buckley, both highly regarded bankers at Merrill Lynch, were giving up stellar careers to start their own hedge fund, RAB Capital. The only money they had was their own, and their staff consisted of one manager, a compliance officer and a secretary.

Five years on, the little room in 1 Adam Street, still RAB Capital’s main trading floor, albeit straining under a vastly expanded workforce, is again the engine room of an ambitious and pioneering venture.

Last week RAB Capital became the first stand-alone hedge-fund company to announce its intention to float in London.

Richards, 46, and Alen-Buckley, 43, will be at the helm of a company with a market value that could be as high as 100m. Their stakes could be worth 30m each. Advised by KBC Peel Hunt, the firm will release a prospectus tomorrow revealing how much money it intends to raise.

In the past five years, Richards, a former army officer, and Alen-Buckley, who is the son-in-law of the hotelier Lord Forte, have increased their funds under management from 4m to an estimated 1.1 billion. They have 40 staff (16 of them managers), 7 hedge funds and a track record that is the envy of the City.

RAB’s first fund, the European equities fund, which was launched in November 1999, has made returns of 84% despite the tumbling markets.

Floating will for the first time allow small investors to take part in the success of a hedge-fund boutique rather than investing in one fund.

But there is growing concern that they will also be exposed to risks that at the moment are restricted to professional investors.

Watching in the wings are hundreds of other hedge-fund managers, salivating at the thought of following RAB to market and realising the value of their businesses. Investment bankers and advisers are also rubbing their hands at the prospect of a spate of similar deals.

Two funds earmarked for flotation are Thames River Capital and GLG Partners, one of the biggest hedge funds in London, with about $8 billion under management. Experts say plenty of others are looking to float as a way of cashing in.

Richards and Alen-Buckley dismiss the suggestion that this is their motive for floating RAB. “Right from the start we wanted to create a long-term business and we’re here to stay,” said Richards. “Floating is an indication of our permanence. Neither one of us will be taking cash out. We are also doing this for our staff. We have given them options over the years and this will be their chance to realise some cash. Staff loyalty is important to us and to our clients, who like the stability this offers.”

The cash raised from the float will also be used to launch additional hedge funds and bankroll the company’s rapid expansion.

Managers have already been hired for several new funds that will specialise in energy and in Japan. Small investors are likely to be attracted through a joint venture with Saga, which provides services for the over-fifties and has 7m customers.

Richards and Alen-Buckley built impressive reputations in the City working together in the late 1980s at Smith New Court, where they helped to build the stockbroker from a market value of 10m to one of 500m by the time it was sold to Merrill Lynch in 1995.

Both men had been watching the growing hedge-fund industry with interest. Alen-Buckley had numerous contacts, including leading figures such as George Soros. They spent four years at Merrill before quitting to set up RAB.

Alen-Buckley, who is taking the title of executive chairman, is described as the “public face” of the business. Richards, who goes from chief investment officer to chief executive, is more involved in strategy.

Richards runs the Special Situations fund, which is just over a year old but has already generated a return of 1,274%.

Since hedge funds are known for being opaque and secretive, observers are concerned that RAB will struggle to live with the scrutiny that comes with being a public company.

Richards said the company planned to float on the Alternative Investment Market (AIM) rather than the main market so that lengthy meetings with institutions could be avoided. “We want to spend our time managing the money, not talking about it,” he said.

“We have a simple philosophy. Our goal is to produce consistent returns in all market conditions. We think that if you work on managing the risks and reducing the downside, the upside tends to look after itself. The float is exciting but it will still be business as usual.”ENDS



Please DYOR, you are responsible for your own buying and selling timing actions.

cheers GF

Interesting article - thanks GF. I shall definitely add some RAB to my portfolio.

Yes, have a few too as unmargined real equity and may well add to them

PS, can we just keep to ONE thread on RAB (he said nicely) as it will make it easier for us all to evaluate the share and company

Missed this one friday must be slipping. The saturday mail brought it to my attention...............

Cambridge Mineral Resources PLC
16 April 2004

Cambridge Mineral Resources plc ('the Company')



Holding in Company



The Company was notified on 16 April 2004 that RAB Capital plc, acting as
investment manager for a number of co-mingled funds, had acquired on 14 April
2004 a further 2,325,018 ordinary shares in the Company.



RAB Capital plc's notifiable interest is thereby increased to 32,211,783
ordinary shares, representing 23.8 per cent. of the issued share capital.



The notification went on to state that RAB Capital does not act as custodian for
its clients and therefore the shares are registered in the nominee name of the
custodian of its clients, Morstan Nominees Limited.


This information is provided by RNS
The company news service from the London Stock Exchange



Certainly an excelent company to increase your stake in as Cambridge have had a positive drilling update from their Lomero Poyatas project in Spain.

Things just get better with RAB Im going to have more of these in the morning.

cheers GF.

With all the posts all over the internet on Aimquoted, Sharecrazy, MoneyAM, this weekend do you think some holders might be tempted to take a profit after it's recent run?

Looks like it might be overdue a bit of profit taking.

Excelent looking chart.




cheers GF.

Lets just have a look at the other hedge fund group listed on the market and see how it as performed since floating, ie MAN Group EMG.




Well as you can see thats one heck of a performance and in all market conditions especially the Bear market which started approx March 2000, no wonder Edmund Jackson is a share holder in RAB and says he sees RAB as a company worth some hundreds of millions of pounds in a few years.

cheers GF.

Moving along nicely this morning up around 9%.



cheers GF

News just in RAB increases its stake in Cambridge Minerals to 26%.

Cambridge Mineral Resources PLC
19 April 2004



Cambridge Mineral Resources plc ('the Company')
Holding in Company



The Company was notified on 19 April 2004 that RAB Capital plc, acting as
investment manager for a number of co-mingled funds, had acquired a further
2,900,000 ordinary shares in the Company.



RAB Capital plc's notifiable interest is thereby increased to 35,111,783
ordinary shares, representing 26.0 per cent. of the issued share capital.




This information is provided by RNS
The company news service from the London Stock Exchange




cheers gf.

GF
Bought in first thing this morning and looking good already. Thanks!

Me too Goldfinger, thanks for the tip

Just added my 5th tranch today at 56p. Dont think we will see these prices again. Building up a big position.

cheers GF.

Moved up at the very end of the day. An excelent day in lousy markets.

cheers GF.

Motoring again this morning bid offer now 60p 62p, its going to a quid quick time.

And we have more news.........

RNS Number:7713X
RAB Capital plc
20 April 2004

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES,
CANADA, AUSTRALIA, REPUBLIC OF IRELAND OR JAPAN

20 April 2004RAB CAPITAL PLC ('RAB CAPITAL')

RECOMMENDED OFFER BY KBC PEEL HUNT ON BEHALF
OF RAB CAPITAL FOR I2S PLC ('I2S')

Offer declared unconditional in all respects

On 15 April 2004 the board of RAB Capital announced that the Offer had become
unconditional in all respects subject only to the admission of the New RAB
Capital Shares to AIM becoming effective ('Admission'). Admission became
effective at 8.00 a.m. today and accordingly the Offer is now unconditional in
all respects.

As RAB Capital now either owns or has received valid acceptances in respect of
in excess of 90 per cent. of the I2S Shares to which the Offer relates, it
intends to commence the necessary procedures under sections 428 to 430F of the
Companies Act 1985 to compulsorily acquire any outstanding I2S Shares to which
the Offer relates and in respect of which valid acceptances have not been
received.

I2S will today apply to the London Stock Exchange for the cancellation of the
admission to trading of I2S Shares on AIM. It is anticipated that such
cancellation will take effect from 8.00 a.m. on 19 May 2004.

A resolution will be proposed to re-register I2S as a private company under the
relevant provisions of the Act as soon as practicable after such cancellation.

As already stated, the Offer will remain open until further notice.

I2S Shareholders who have not yet accepted the Offer are urged to do so as soon
as possible. I2S Shareholders who wish to accept the Offer should complete the
Form of Acceptance enclosed with the Offer Document and return it, together with
supporting documents, to the Receiving Agent, either by post or by hand to
Computershare Investor Services PLC, POBox 859, The Pavilions, Bridgwater Road,
Bristol BS99 1XZ or by hand (only during normal business hours) to Computershare
Investor Services PLC, 7th Floor, Jupiter House, Triton Court, 14 Finsbury
Square, London EC2A 1BR as soon as possible.

Expressions used in this announcement shall, unless the context otherwise
requires, bear the same respective meanings as in the Offer Document posted to
I2S Shareholders on 17 March 2004.

Enquiries:

KBC Peel Hunt Ltd
Tel: 020 7418 8900
Simon HayesJonathan Marren

cheers GF.

Up over 12% now on the day and still motoring.

cheers GF.

Well thats over 25% gain in just 2 days.

I beleive theres still plenty of upside in this one.

Dont for one minute think its run out of steam because it hasnt. Nothing goes up in straight lines, never as and remember it a quid fairly quickly.

cheers GF.

ps , im in right up to 64p and see this going a lot higher no matter what the market is.

Decided to take the plunge today for the first time..

Taken the slight fallback as an opportunity to top up on RAB at 59p.

cheers GF.

This is the first down day since april 8th, when the price was around .35P reading some of the comments on a rival website you would have thought the world had caved in, i think this has a lot more fuel left in it, espiacally if greenspan behaves today,i'm with you lock stock and barrel GF.

Guys i STRONGLY recommend you call the PR service of RAB Capital and have a read of their portfolio...
Call the following number and ask them to send a Electronic version through email, its only 600KB

Granfield
Contact: mark popilec
020 7417 4182

Well after profit taking today we should see this one moving up again thursday.

Think at the month end there will be a lot of tip sheets tipping this one.

cheers GF