Thames River Asks Shareholders To Close Fund Of Funds

Aug 7 2012 | 2:55pm ET

Thames River Capital plans to close a listed fund of hedge funds next month.

The fate of the Multi Hedge Fund, managed by Ken Kinsey-Quick, will go to a shareholder vote on Sept. 11. The £54 million fund’s performance suffered last year and it has traded at a consistent discount—currently 12%—this year.

“The board of the company outlined proposals for a managed wind-down which, if approved by shareholders, will lead to realizing the company’s investments and returning the cash to over time,” Thames River said.

Kinsey-Quick invested most of the fund’s assets in long/short equity hedge funds, with additional exposure to multi-strategy and credit managers. The fund debuted in 2004.

The expected closure of the Multi Hedge Fund is the second time in as many years that Thames River has shut a Kinsey-Quick-helmed fund; last year, his Absolute Return Fund got the ax due to lack of investor interest. He continues to manage four other funds of funds at Thames River.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...