Odey Asset Management is in talks with Landseer Asset Management UK to transfer portfolio manager Freddie Neave, who runs its flagship hedge fund, as the troubled firm reaches the final stages of a revamp following sexual assault allegations against its founder Crispin Odey.

London-based Odey is in discussions with Landseer to become the investment manager to a new fund managed by Neave following a proposed reconstruction of its Odey European Inc. and OEI Mac funds, the firm said in a statement dated Aug. 11. The talks are subject to regulatory approvals. The two funds — previously co-managed by Crispin Odey — were suspended in June in the wake of surging redemption requests.

The European Inc. strategy managed $781 million as of end-June, which included Crispin Odey’s own money that’s unlikely to be moved elsewhere. The move marks the firm’s latest steps to rehouse funds managed by portfolio managers including Adrian Courtenay, James Hanbury and Oliver Kelton as part of its restructuring.

The London-based firm has been battling to contain an exodus of clients’ money since the June 8 Financial Times investigation into founder Crispin Odey’s alleged treatment of women over a roughly 25-year period. Ousted from the company that bears his name, he has denied the allegations. Assets in the funds have plunged, forcing the firm to look to rejig its money pools and employees.

The firm also considered restructuring the fund’s operations, which may allow clients to switch their investments to a new entity, according to a separate letter. The OEI Mac Inc. fund was created in February 1994. The Odey European Inc. strategy, the main hedge fund offering with roots dating back to 1992, is known for its wild swings over the years.

In 2022, the fund posted its best-ever performance, returning 152%, powered mainly by Odey’s highly leveraged short wagers on long-dated UK government bonds as inflation and political turmoil roiled the British economy.