UK hedge fund manager Thames River Capital is aiming to raise £50 million ($100 million) with an upper limit of £100 million through a placing and offer for subscription in its fund of hedge funds, Thames River Hedge+. According to the firm, this follows pent-up investor demand.

Manager Ken Kinsey-Quick said: “It’s extremely encouraging that we are continuing to see strong demand for Hedge+. The current bursting of the credit bubble, and the consequent re-pricing of risk, looks to be creating exciting investment opportunities especially in the distressed area over the next 12-24 months.”

The £159.4 million fund was launched in February 2004 with the aim of achieving absolute returns in excess of 10 per cent per annum over a cycle through opportunistic investment in a portfolio of both directional and non-directional hedge funds. It is a closed-ended Guernsey-domiciled protected cell company listed on CISX and LSE.