Ex-TCI founder Degorce’s Theleme heads for $1.2bn soft-close level after a robust start
Thu Mar 24, 2011
Patrick Degorce and his colleagues have had a successful first year, with performance and asset-raising both in line with target after 15 months
TCI co-founder Patrick Degorce has produced a strong start with
his new Theleme Partners firm – with assets in the
global long/short equity fund heading towards the soft-close
level of $1.2 billion and with performance so far also bang in
line with target after 15 months.
The Theleme fund has a permanent hard-cap level for external
capital of $2 billion and assets are already at around $900
million. The firm’s principals expect to
soft-close in the next quarter – and the remaining
$800 million of capacity will then be reserved solely for
existing investors to scale up their commitments.
Performance has been sure-footed in a very volatile global
equity environment – with the fund annualising at
around 15% since its inception in December 2009, in line with
its long-term target of 15% net annual returns, earning a
EuroHedge Award nomination for its performance in 2010.
Much of the money...
ISSN: 2151-1845 / CDC10004H
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