Crispin Odey piles into Boohoo.com
ODEY Asset Management, a London fund run by the financier Crispin Odey, has built a 7% stake in online fashion firm Boohoo.com.
Mr Odey famously made a fortune betting against the banks in the financial crisis, paying himself £28m in 2008.
Manchester-based Boohoo floated on the Alternative Investment Market (AIM) last week raising £300m.
Shares were priced at 50p giving it a market value of £560m on admission. The value has since risen to £740m based on the latest share price of 66p.
According to a market notification, Odey bought 79,200,000 shares on March 13, the day before they were admitted to the market. This investment would have cost around £40m.
Mr Odey is married to Nichola Pease, who runs the fund manager JO Hambro, and is a member of one of the founding families of Barclays Bank. He had previously been married to Rupert Murdoch’s eldest daughter, Prudence.
