Thames River Capital last month launched the Thames River 2X Currency Alpha, a Cayman Islands-based currency fund of funds, with US$15.2 million. The firm said it will follow up this latest offering with another launch, that of the Thames River 1x Currency Alpha Fund, on June 29.

Thames River’s new vehicle will invest in 10 to 20 managers employing a broad array of styles, including fundamental and technical analysis, quantitative and discretionary trading, short-term and long-term, with a focus on both developed and emerging markets, according to fund documents.

The fund of funds is targeting returns of cash plus 10% annually net of fees. It charges 1.5% for management and 10% for performance, with a minimum investment requirement of US$10,000, £10,000 or €10,000.

The firm has also hired Michael Warren, who recently joined the Thames River board in the newly-created position of investment director, responsible for driving the firm’s business development. He joins from HSBC Investments, where he served as a managing director of sales and marketing.