TCI alumnus eyes equities-focused start-up
Patrick Degorce, who recently parted ways with Christopher Hohn, is preparing to launch a fund focused on global equities in the coming months and expects to raise up to $1bn (€712m) over time, sources said, according to a report in The Wall Street Journal.
It is believed that Degorce, a former Merrill Lynch executive and ex-French navy officer, intends to charge incentive fees based on performance over the duration of the investment, rather than annually, as is common practice.
Degorce, who quit TCI at the end of last year, played a key role in some of the hedge fund’s major activist investments - including those in ABN Amro and Deutsche Börse - the WSJ report said.
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