Key Takeaways
- • North Rock Capital Management, a US hedge fund subsidiary of Lighthouse Investment Partners, is launching a systematic equities business in Europe, signaling expansion into a new investment strategy area.
- • Pierre Doulcet, a French portfolio manager with seven years at DWS Group and earlier experience at BNP Paribas and SocGen, joined North Rock as systematic equity portfolio manager in London on July 8, 2026.
- • North Rock already operates long/short equity and capital markets businesses in Europe following a hiring expansion three years ago; the systematic equities hire suggests further team additions are planned.
- • The move positions North Rock to capture demand in systematic equity strategies, a growing segment within the hedge fund industry as managers diversify beyond traditional fundamental approaches.
Summary
North Rock Capital Management, the London-based subsidiary of US hedge fund parent Lighthouse Investment Partners, is building out a systematic equities capability in Europe through a senior personnel hire. Pierre Doulcet, a portfolio manager with two decades of investment experience, joined the firm on July 8, 2026, as a systematic equity portfolio manager based in London, according to FCA registration records.
Doulcet brings substantial institutional asset management experience to the role. The French-born manager spent seven years as a portfolio manager at DWS Group, a major global asset manager, before joining North Rock. His earlier career included positions at European banking institutions BNP Paribas and SocGen, providing him with deep roots in continental European financial markets and investor networks.
North Rock's expansion into systematic equities represents a strategic diversification within its existing European platform. The firm currently operates long/short equity and capital markets businesses from London, having completed a hiring cycle in those divisions approximately three years prior. The addition of Doulcet and anticipated further recruits indicates management's intention to develop systematic equities into a meaningful business line alongside these existing operations.
The timing reflects broader industry trends toward systematic and quantitative strategies. With hedge funds projected to reach $5 trillion in assets, managers increasingly deploy multi-strategy frameworks that combine fundamental, macro, and systematic approaches. By establishing systematic equities capabilities in Europe—where the UK alone accounts for 53% of European hedge fund managers—North Rock positions itself to serve institutional and family office investors seeking diversified manager access to algorithmic and rules-based equity strategies.
Doulcet brings substantial institutional asset management experience to the role. The French-born manager spent seven years as a portfolio manager at DWS Group, a major global asset manager, before joining North Rock. His earlier career included positions at European banking institutions BNP Paribas and SocGen, providing him with deep roots in continental European financial markets and investor networks.
North Rock's expansion into systematic equities represents a strategic diversification within its existing European platform. The firm currently operates long/short equity and capital markets businesses from London, having completed a hiring cycle in those divisions approximately three years prior. The addition of Doulcet and anticipated further recruits indicates management's intention to develop systematic equities into a meaningful business line alongside these existing operations.
The timing reflects broader industry trends toward systematic and quantitative strategies. With hedge funds projected to reach $5 trillion in assets, managers increasingly deploy multi-strategy frameworks that combine fundamental, macro, and systematic approaches. By establishing systematic equities capabilities in Europe—where the UK alone accounts for 53% of European hedge fund managers—North Rock positions itself to serve institutional and family office investors seeking diversified manager access to algorithmic and rules-based equity strategies.
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