Launches & Closures

Strong start at Theleme takes assets past $500m

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Former TCI co-founder Patrick Degorce is off to a strong start with his new Theleme global long/short equity operation, according to investor sources, with assets already passing the $500 million mark after launching to outside investors at the start of January.

Performance has been robust, with the fund up by some 14% gross since its formal launch on 1 December. The fund has a permanent hard-cap level for external capital at $2 billion.

So far the bulk of the money has come from the US, where many investors are familiar with Degorce from his time at TCI - and where