Mark Wagner is set to become the largest single shareholder in market-neutral hedge fund specialist Sabre Fund Management, following the decision of non-executive directors Robin Edwards and Colin Barrow to sell a significant part of their equity in the group.

Edwards founded Sabre in 1982, while Barrow joined the group in 1996. As well as Wagner, Dan Jelicic and Melissa Hill will be buying portions of the share stakes Edwards and Barrow are selling. Sabre declined to comment on the size of the transactions.