Lehman Brothers and BNP Paribas have won the mandate to advise on the flotation of Anglo-French fund manager Boussard & Gavaudan's flagship hedge fund on Euronext's Amsterdam stock exchange.

The issue will be the first single-manager hedge fund to be listed in Amsterdam and the first to be denominated in euros. UK-listed RAB Capital last year floated a fund feeding its special situations hedge fund on London's Alternative Investment Market. BlueCrest floated Close AllBlue, which feeds BlueCrest's hedge funds, in May on the UK's junior market. Other companies have listed funds of hedge funds. Boussard & Gavaudan said last week it planned to float Sark Holding, a multi-strategy fund whose initial proceeds will be invested in Sark Fund, the €1.2bn ($1.5bn) market-neutral multi-strategy hedge fund it launched in 2003. Three partners have left Boussard & Gavaudan since April. Stéphane Mysona resigned as one of three directors and has become a trader at Ixis Corporate and Investment Bank in London. Didier Rabattu has returned to Deutsche Bank to head European consumer and retail investment banking, and Alexei Ravel left in June. Boussard & Gavaudan declined to comment.