Trafelet & Co., a New York asset manager, said Monday that it has hired a former Fidelity Investments portfolio manager to manage two new international funds.
The company said it hired Leif Christian "L.C." Kvaal to be a partner and portfolio manager. Mr. Kvaal is to direct Trafelet's new London office and manage the long/short equity funds Delta Fund Europe LP and Delta Fund Europe Ltd.
Mr. Kvaal, 35, is a 10-year veteran of Fidelity International Ltd. in London. He managed the $550 million-asset European portion of Fidelity's International Small Cap Fund and the European Open Fund.
Fidelity announced Friday that Ben Paton had been named to succeed Mr. Kvaal as manager of the international small-cap fund.
Trafelet was founded in June 2000. It started its initial three funds - Delta Onshore LP, Delta Institutional LP, and Delta Offshore Ltd. - in November 2000. All its portfolios are long/short equity funds. The company manages $600 million of assets overall.
