Before making name for himself as the owner of
Jordan Formula One racing team,
Eddie Jordan was a banker and now, 35 years later, he's returning to financial services as a director of
Clareville Capital. Jordan, who sold the U.K. team last year to
Alex Shnader and his
Midland Group – Jordan reportedly shelled out £1 million (US$1.7 million) a month of his own money to keep the team financially humming – is the newest member of a star-studded team which together has acquired a 49% stake in the London-based hedge fund. Other newcomers include
Jonathan Marland, treasurer of the British
Conservative Party and found of
Jardine Lloyd Thompson, the risk management advisers and insurance broker; and
Charles Dunstone and
David Ross, founder and deputy chairman, respectively, of
Carphone Warehouse. Clareville founder
David Yarrow, who holds the remaining 51% of the firm, is hoping the incoming team will have the formula to power the flow new investors and drive the hedge fund to new heights. Among the future plans is the imminent opening of an office in Mumbai, India, and another in Brazil in 2007. Yarrow told
The Times of London that, until now, the firm with US$800 AUM has been too small to take advantage of all the growing hedge opportunities out there, but with the new part-owners, "We're really going to go for it now."