London-listed asset manager Polar Capital is looking to acquire or recruit new teams and double its number of strategies by 2013, as consolidation in the sector increases.

Polar chief executive Tim Woolley told Financial News that the firm, which manages $2.5bn (€2bn) across six strategies, wants to expand to 10-12 strategies over the next three years - and is looking to hire or buy both long-only and hedge fund teams to meet this target.