Monday, 23rd November 2009

 

3 November 2009 - Press Briefing

TCI co-founder unveils hedge fund venture

TCI co-founder Patrick Degorce, who quit the activist hedge fund in January, has started his own venture called Theleme Partners, with an estimated $200m (€135.2m) in client assets, according to a report in the Financial Times.

The start-up has had an informal “soft-launch” with “friends and family” money, and is likely to raise between $700m and $1bn in January when it can formally begin trading with external investors’ capital, sources said.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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