EL SEGUNDO, Calif. (HedgeWorld.com)–Robert L. Chapman, Jr., the hedge fund manager who gave himself a sabbatical 16 months ago, announced this weekend that he’s back.

His two new funds, Chap-Cap Partners II LP and Chap-Cap Activist Partners LP, will open their respective doors Jan. 1, 2006. The latter, as its name suggests, will focus on the corporate-activist role that Mr. Chapman pioneered, “before many of those others who have flattered me during my brief absence” by their imitation, as he said in a brief statement Saturday.

He has traveled to 45 countries over the last year, Mr. Chapman said. During this period, he has played cricket with the locals in Karachi, Pakistan, climbed three sections of the Great Wall of China (once in subfreezing weather) and been chased by wild apes through the Cambodian forest, he said.

Mr. Chapman set off on these travels after recovering from a surfing accident that might very easily, a doctor told him, have rendered him quadriplegic.

Now, though, he is back in Southern California, hiring the new team, with a self-employed deadline of Oct. 1 for completing that task. He plans to open a New York office sometime in 2006 to complement the operations of the Los Angeles office.

In the fourth quarter of this year, he said, “The new team will begin construction of a model portfolio to be implemented” at launch.

Contact Bob Keane with questions or comments at: bkeane@investmentadvisor.com.