A former stock-picker at Marshall Wace and Odey Asset Management has launched a London-based hedge fund, seeking to profit from under-valued listed and private companies in the consumer and tech sectors.

According to a source close to the situation, Francesco Fredella has partnered with Angel Capital Management, an Italian private investment firm that specialises in value investing, to launch Pecten Capital, which has rented an office in Mayfair’s Savile Row.