Hedge Funds

Ex-TCI founder Degorce’s Theleme heads for $1.2bn soft-close level after a robust start

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Patrick Degorce and his colleagues have had a successful first year, with performance and asset-raising both in line with target after 15 months

Former 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