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Reuters – Thames River Capital is hoping to launch two investment grade credit strategies later this year and is looking at how best to target the U.S. institutional market, chief executive Charlie Porter told Reuters.
The independent fund house, which manages $11.5 billion (6.9 billion pounds) in traditional long-only and hedge-fund-style products, has been adding to its investment team to support new products, and hopes to scoop up rivals weighed down by the financial crisis.
Reuters UK – Thames River Capital is hoping to launch two investment grade credit strategies later this year and is looking at how best to target the U.S. institutional market, chief executive Charlie Porter told Reuters.
The independent fund house, which manages $11.5 billion (6.9 billion pounds) in traditional long-only and hedge-fund-style products, has been adding to its investment team to support new products, and hopes to scoop up rivals weighed down by the financial crisis.
"Whenever you have periods of turmoil and tumult, interesting opportunities are thrown up," Porter said in an interview.
Reuters – Fund of hedge funds boutique Hermes BPK Partners said on Monday it has appointed Glyn Jones, former chief executive officer of Thames River Capital and Gartmore, as its new chairman.
Hermes BPK Partners is a partnership between its managers and UK fund firm Hermes, which is owned by the 39 billion pound ($58.19 billion) BT (BT.L) pension scheme.
LUXEMBOURG (Reuters) – A wave of mergers and acquisitions could sweep the fund management industry this year as players come under pressure from the market turmoil, said speakers at the Reuters Funds Summit.
One leading hedge fund manager added that the consolidation could lead to the disappearance of half of the current hedge fund players.
"I would say that if half had to close, I wouldn’t be surprised," said Ken Kinsey-Quick, head of multi-manager products at London-based hedge fund Thames River Capital LLP.
"The consolidation is happening right now. By summer it will be done and dusted. Those that are going to be around, it will be pretty clear in June who those will be," he added.
Both hedge funds and more mainstream fund management companies have faced having to merge or be taken over due to the effects of the financial crisis, which has led to massive withdrawals of clients’ money.
Reuters – A shakeout of the hedge funds industry could be over by June 2009, with nearly half of firms likely to shut up shop, a leading hedge fund manager said.
"The hedge fund bubble has popped and, unfortunately when any bubble pops, it’s a painful process," said Ken Kinsey-Quick, head of multi-manager of hedge fund firm Thames River Capital.
"If half were to close down, I wouldn’t be surprised. But the nice thing about hedge fund land is that things move very very quickly, it will probably be done and dusted by June," he continued
Hedge funds returns were a negative 19 percent last year, when investors pulled out a record $158.9 billion (113.86 billion pounds), according to data from Lipper.
