The boutique established last summer by star global equities manager Hassan Elmasry has already built up over $2bn (€1.6bn) of assets, Financial News can reveal.

Elmasry's team were responsible for Morgan Stanley's $9bn flagship global franchise strategy, which invests in companies with strong brands, before leaving early last year to launch Independent Franchise Partners. While at Morgan Stanley, Elmasry pursued a well-publicised crusade urging changes to the share structure of the New York Times company before deciding to ditch the stake held by his fund in late 2007.