Asset growth at Polygon Investment Partners, a hedge fund manager that in August scuppered a bid for telecoms services company Telent, helped it to double its income last year to £38m (€57m).

The hedge fund raised its revenue from running funds from £19.2m in 2004 to £38.2m in the year ended November 30, 2005, according to accounts of Polygon Investment Partners LLP filed at Companies House.