Friday, 29 August 2014
Last updated 11 hours ago
Oct 25 2010 | 2:09am ET
The Children's Investment Fund founder Patrick Degorce has raised more than US$700 million for his new hedge fund in less than a year.
Thélème Partners, founded last year after Degorce retired from TCI, debuted in January with US$200 million. But the London-based firm has had no trouble attracting more money, and it has returned just over 10% this year, to boot, the Financial Times reports.
Among the reasons for the fundraising prowess is Thélème's investor-friendly fee structure. The firm offers a break to investors who accept longer lockups: Those who agree to a three-year lockup pay only 17% for performance and five-year lockups earn investors a cut to 15% from the Thélème's standard 20% performance fee rate. Two-thirds of the funds investors have chosen one of those two share classes.
The firm also promises a reduction in its management fee when it reaches US$3 billion in assets. It plans to soft-close its maiden fund at US$1.2 billion.
Thélème invests in stocks across the U.S., Europe, Asia and emerging markets. The former are most prominent in the portfolio, currently making up more than half of its investments. Degorce is said to believe strongly in a U.S. economic turnaround and Thélème boasts a Los Angeles office, headed by former TCI partner Snehal Amin.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...