WEST PALM BEACH, FL (HEDGECO.NET) – Thames River, which oversees about $8.5 billion (4.6 billion pounds) of assets in hedge fund and traditional portfolios, said on Thursday it will not float in the stock market and that it was in its best interests as a business to remain a private partnership rather than publicly-quoted company.Thames River was founded in 1998 by Porter and Jonathan Hughes-Morgan, and employs 103 people in London.
Thames River said chief executive Glyn Jones is also to step down following a review of its business management. In a statement, Thames River said chief executive Glyn Jones, who joined seven months ago, will leave because he had joined the business on the mutual agreement he would step down if it did not go public. Jones’s role will be taken up by Charlie Porter, president and co-founder of the firm.
“We have concluded unanimously that Thames River is a fundamentally sound business that does not need radical change,” Jones said in the statement.
A number of hedge fund businesses have listed or are looking to list on the stock market Man Group, the world’s biggest listed hedge fund firm, predicts that around 40 to 50 hedge fund companies will list over the next five to 10 years. There are around 9,000 hedge funds around the world overseeing about $1.3 trillion in assets.
Alex Akesson
Contributing Writer
HedgeCo.Net
Email: [email protected]
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