John Duffield, the founder of New Star Asset Management, the stricken fund manager that was sold to Henderson Global Investors at the beginning of the year, has re-emerged, having set up a new private investment firm. The new company, Hyde Park Asset Management, will initially concentrate on running Duffield's personal wealth.

The family office is being established in the old New Star offices, according to a report on the financial-services website Interactive Investor. A spokesman for Henderson, which completed its acquisition of New Star last week, confirmed Duffield was renting office space there.