Former Citywire AAA-rated Timothée Malphettes (above centre) has teamed-up with partners Michael Niedzielski (left) and Matthieu Bordeaux-Groult (right) to launch ROCE Capital, Citywire Selector has learned.

The Paris-based boutique, which takes its name from the profitability score ‘Return On Capital Employed’, will manage a fundamental, long-only fund that invests primarily in European-listed equities.

The strategy, which will be officially launched in September with €30m of initial capital, will be overseen by lead portfolio manager Niedzielski and Malphettes serving as co-manager.