Wednesday, 4 March 2015
Last updated 12 hours ago
Sep 10 2010 | 12:49pm ET
In its last earnings report as an independent firm, Thames River Capital had bad news for investors but good news for its partners.
The firm, which was acquired by F&C Asset Management this month, said its profit fell by more than 40% to £20.5 million in the year-ended June 30. Assets under management rose from US$5.3 billion to US$5.5 billion, but that wasn’t enough to make up for the firm’s underperforming hedge funds.
Still, the firm’s 25 members enjoyed a handsome final payout before entering the F&C fold. Partners split £25.9 million—more than the firm made during the fiscal year. Still, that was a sizeable pay cut from the previous year, when 19 partners split £41.1 million.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…