Hedge fund manager Novacore Capital LLP has secured direct authorisation from the Financial Conduct Authority (FCA), effective from 2 February 2026.
The London-based firm was founded in 2025 by former Citadel portfolio manager Nico Dil, who was joined by former Gladstone Management COO Neil Hobson in December 2025.
According to Dil's LinkedIn and the Novacore Capital LinkedIn profile, the firm will follow a beta-neutral, risk-controlled long/short equity investment strategy focused on European industrials. The firm is regulated as an unauthorised AIF with permissions related to investments for eligible counterparties and professional customers.
Dil left Ken Griffin's hedge fund Citadel in March 2025 after 12 and a half years at the firm. He serves as Co-Founder and Chief Investment Officer (CIO) of the newly regulated entity, while Hobson (also a Co-Founder) takes the CEO role. Currently, Dil is active in the regulated SMF1 Chief Executive position.
Dil's departure from Citadel was reported at the time by Bloomberg. Alternative Fund Insight reported on Hobson’s move in December 2025.
Former Citadel quantitative researcher William Buckingham is a Partner at the firm and serves as Chief Risk Officer, having joined in August 2025. Prior to Citadel, he held analyst roles at BlackRock.
Michael O'Sullivan joined the firm as Senior Analyst and Partner in August 2025, having been a senior analyst at Diameter Capital Partners. Prior to Diameter, he was an analyst at Citadel.
Robert Black joined in July 2025 as Head of Trading and ECM (also a Partner), having previously been a trader at D. E. Shaw.
Hamant Lad serves in the SMF16 Compliance Oversight and SMF17 Money Laundering Reporting Officer roles. He previously held regulated roles at Glenernie Capital, Pelham Capital, and Caledon Capital Partners.
The FCA also lists Zhen Yang as a Partner at Novacore Capital. As of publication, Yang's LinkedIn still shows him as a Portfolio Manager at Millennium. He also previously held an analyst role at Citadel.
