Thames River founder Beckwith backs hedge fund

Property financier Sir John Beckwith is backing the launch of a new hedge fund, in partnership with Icap boss Michael Spencer.

Beckwith, who has made around £400m from backing asset management groups, has appointed Rod Barker from International Standard Asset Management - the fund group established by Stanley Fink - as chief executive, the Telegraph reports. The new group will focus on European and global equities, and will then expand into credit funds. The majority stake will be owned by Beckwith's Pacific Investments, while Spencer will own a minority stake with Jim Pettigrew, former finance director of Icap. The property tycoon plans to repeat the success of his last group - Thames River Capital - and ...